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- Embraer (NYSE:ERJ) on Monday was upgraded to Buy from a previous investment rating of Neutral by analysts at Citibank. They said the Brazilian company’s commercial plane business faces challenges, but some industry data indicate it reached a floor.
- Its defense business also may get a boost as countries throughout the world ramp up military spending, according to Citi.
- The financial-services firm set a price target of $16 per American depositary receipt on Embraer (ERJ). The ADRs have declined 18% in the past six months.
- Embraer (ERJ) this month received an order for 12 of its E195-E2 jets from Aerolineas Argentinas.