UPDATE: Topeka Capital Markets Reiterates Hold Rating, Raises PT on Spirit AeroSystems Holdings Following In-Line 2Q13 Revenue

In a report published Tuesday, Topeka Capital Markets analyst Michael Callahan reiterated a Hold rating on

, and raised the price target from $22.00 to $25.00. In the report, Topeka Capital Markets noted, “Spirit reported second-quarter revenue in-line with pre-announced levels of 1.521 billion (up 13%), while program losses of $448 million exceeded the previously announced range of $350 to $400 million. In Spirit's core business, 2Q13 results came in well ahead of expectations at $0.72, up 44% year-over-year. Given a stronger run-rate on the core business, we are increasing our 2014 estimates, and raising our price target to $25. However, we remain cautious on the Company's development programs and reiterate our Hold rating.” Spirit AeroSystems Holdings closed on Monday at $24.64.