UPDATE: Sterne Agee Reiterates On Spirit AeroSystems Following Q3 Results

In a report published Tuesday, Sterne Agee analyst Peter Arment reiterated a Buy rating on Spirit AeroSystems Holdings, Inc. (NYSE: SPR), and raised the price target from $48.00 to $52.00.

In the report, Sterne Agee noted, “3Q14 results again demonstrate how SPR's operations are set up to garner significant leverage to the aerospace cycle when executing. Our 2015-2018 EPS estimates are raised reflecting continued cost reductions coupled with higher volumes in the out-years. With the Tulsa asset sale coming soon SPR's de-risking of the portfolio continues to be very compelling for long-term investors. Our price target is now $52 (up $4), reflecting 15x our 2015 estimate less potential losses for A350 and Gulfstream.”

Spirit AeroSystems Holdings closed on Tuesday at $41.30.