Analysts at the firm also raised its price target to $50 from its previous $43, and cited valuation as the reason for the move in its research note.
RBC Capital added that it believes improvements on several of the company's airplanes would cause estimates for Spirit AeroSystems to rise.
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Shares of the Wichita, KS-based Spirit AeroSystems closed at $40.98 at the end of Friday's trading session.
Spirit AeroSystems is an independent non-original equipment manufacturer holding company of aircraft parts designers and manufacturers of commercial aerostructures.
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 some important positives, 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, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."