Bernstein upgraded Spirit AeroSystems (SPR) to Outperform from Market Perform with a price target of $29, up from $25. The analyst the Boeing (BA) infusion of cash outlined in last week and new leadership that should bring more operational expertise for the upgrade. With Spirit’s free cash flow set to turn positive, the risks around its $1.2B 2025 debt maturity are well down, the analyst tells investors in a research note. The firm says concerns about Spirit’s liquidity position heading toward its 2025 debt maturity have been an overhang for the stock.
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