UPDATE: J.P.Morgan Upgrades Embraer on Improved Earnings Outlook
In a report published on Wednesday, J.P.Morgan analyst Joseph B. Nadol III upgraded Embraer (NYSE: ERJ) from Underweight to Neutral and increased the price target from $40 to $43.
In the report, J.P.Morgan noted, "We are taking the opportunity to upgrade the stock in front of what we see as likely upward consensus estimate revisions after the company reports Q2 earnings on Thursday after the close. However, our rating only advances to Neutral rather than Overweight due to the weak cash conversion we expect in both the short and longer term."
Embraer closed on Tuesday at $38.03.
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