Standpoint Boosts Target on Spirit Aero from $24 to $28

Standpoint Research's Ronnie Moas boosted his price target on shares of Spirit Aero

from $24 to $28 in a mid-day research note Monday afternoon. The analyst highlighted a breakout, saying Spirit "remains one of the most attractive names in the Aerospace & Defense industry on an absolute and relative basis. Up 30% for us since the March 4 recommendation (and +2200 bps versus the S&P-500), SPR (market cap $3 bln) remains undervalued at 9X estimates for next year. This is a less volatile way to play Boeing and commercial aerospace." Shares of Spirit are up 1.9 percent to $22.33 at last check. Moas's new price target represents potential upside of about 25 percent.