Goldman Sachs analyst Noah Poponak has maintained their neutral stance on SPR stock, giving a Hold rating on May 8.
Noah Poponak has given his Hold rating due to a combination of factors affecting Spirit AeroSystems’ medium-term outlook. The analyst acknowledges the potential for significant long-term growth if the company can effectively execute its plans. However, the current low production levels and the absence of full-year guidance for fiscal year 2024 have contributed to a lack of clarity regarding the company’s financial performance in the medium term. Despite Spirit AeroSystems’ expectation of steady-state production of 737 aircraft at a rate of 31 per month, with the capacity to increase to 38, the visibility into the company’s financials remains limited, prompting a cautious stance from the analyst.
Poponak’s neutral, or Hold, rating reflects this uncertainty and suggests a wait-and-see approach for investors. The report indicates that while there is room for optimism regarding Spirit AeroSystems’ capabilities, the current information does not provide sufficient confidence to warrant a more favorable rating. Thus, the Hold rating is a recommendation for investors to maintain their positions without making additional investments until more definitive information becomes available to reassess the company’s financial health and prospects.
In another report released on May 8, RBC Capital also maintained a Hold rating on the stock with a $35.00 price target.
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Spirit AeroSystems (SPR) Company Description:
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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