The firm said it raised its rating on the company, which operates as a non-independent equipment manufacturer, aircraft parts designer, and manufacturer of commercial aerostructures, based on its belief Spirit is making "major progress" on the A350 aircraft.
Additionally, JPMorgan said that Spirit's third quarter "provided further evidence that the new management team at Spirit is turning the corner on performance."
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"The core business has increasingly exhibited this for a few quarters now, and positive cumulative adjustments are starting to become more of a drumbeat while underlying cash flow backs it up," the firm noted.
Separately, TheStreet Ratings team rates SPIRIT AEROSYSTEMS HOLDINGS as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SPIRIT AEROSYSTEMS HOLDINGS (SPR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."