Six thousand machinists at Spirit AeroSystems (SPR) began a strike over the weekend after their contract came to end on Friday, halting work at the company’s Wichita facility, including work on Boeing’s (BA) 737 and 787 models, Citi analyst Jason Gursky tells investors in a research note. Citi does not expect a prolonged strike and disruption in production, saying Spirit management appears motivated to get a deal done. The firm is a buyer of Boeing on weakness related to the strike news “as any disruption to deliveries is likely to be temporal, not structural.” It has a Buy rating on the stock with a $248 price target.
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Published first on TheFly
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