Embraer price target lowered to $24 from $27 at BofA

BofA lowered the firm’s price target on Embraer to $24 from $27 and keeps a Buy rating on the shares after updating the firm’s model post Q4 to account for a change in delivery mix and higher margin expectations. While the backdrop for Embraer continues to evolve, the firm continues to believe Embraer’s "innovative nature" and diverse exposure across commercial and business aviation and defense will permit it to continue to grow.