Spirit AeroSystems upgraded to Outperform from Market Perform at TD Cowen

TD Cowen upgraded Spirit AeroSystems to Outperform from Market Perform with a price target of $35, up from $27. The analyst cites the company’s enhanced cash flow prospects for the upgrade. The firm says stabilized 737 production and a moderated ramp following the Alaska MAX 9 incident augur improving 737 productivity. When coupled with an expected Airbus price negotiation and big inventory turn opportunity, Spirit AeroSystems should face a “robust” free cash flow rebound, the analyst tells investors in a research note.