Canaccord Genuity Remains a Buy on Spirit AeroSystems (SPR)

Canaccord Genuity analyst Kenneth Herbert maintained a Buy rating on Spirit AeroSystems (SPR) today and set a price target of $50.00. The company’s shares closed last Wednesday at $43.05.

According to, Herbert is a top 100 analyst with an average return of 26.9% and a 71.3% success rate. Herbert covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, Maxar Technologies, and CPI Aerostructures.

Currently, the analyst consensus on Spirit AeroSystems is a Strong Buy with an average price target of $53.42, implying a 18.4% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock with a $60.00 price target.

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Based on Spirit AeroSystems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $877 million and GAAP net loss of $296 million. In comparison, last year the company earned revenue of $1.96 billion and had a net profit of $67.7 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPR in relation to earlier this year.

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Spirit AeroSystems Holdings, Inc. engages in the design and manufacture of aero structures for commercial and defense aircraft. It operates its business through the following segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces and markets forward, mid, and rear fuselage sections and systems. The Propulsion Systems segment offers struts or pylons, nacelles, and related engine components. The Wing Systems segment includes the development, production, and market of wings, wing components, and other miscellaneous structural parts to primarily aircraft original equipment manufacturer, related spares, and maintenance, repair, and overhaul services. The company was founded on February 7, 2005 and is headquartered in Wichita, KS.

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