Wedbush Lowers PT on SPR to $28

Wedbush has issued a report lowering the Price Target on Spirit AeroSystems SPR from $28 to $30 a share. According to the report, "Spirit AeroSystems announced today a $53-million charge associated with the G250 (now G280) wing work. The charge, $0.26, is all to be taken in 2Q 11. The company also indicated that 2Q 11 EPS are expected to come in at $0.19-$0.21. We have lowered our 2Q 11 estimate to $0.19 and our full-year estimate to $1.52 from $1.75." SPR is rated Outperform and closed yesterday at $22.07 a share.