Jefferies: Spirit Aerosystems Heading to Over $6B

In a research report published today by Jefferies, Spirit Aerosystems

is an attractive investment as it continues to participate in the expansion of civil aircraft production. Jefferies said in the report, “Spirit hosted investors at its Wichita site on March 6 and 7 to discuss its business prospects and efforts to improve its operating performance. We believe management made a reasonable case that it can improve its performance and some of that benefit will fall to the bottom line. While current 2012 financial guidance is still $2.00 - $2.15 for EPS and $5.2 -$5.4 billion for revenues, management indicated that revenues could be in the range of $6.3 billion for 2014, with a target margin of about 7%. We have revenues pegged at $6.5 billion in 2014 and EPS of about $3.05 per share.” Jefferies maintains its Buy rating and $28 PT on Spirit Aerosystems, which closed yesterday at $23.76.