SPR - Aerospace Industry Faces More Downgrades But Recovery Expected Says Analyst | Benzinga
Stifel analyst Bert W. Subin expressed his view on The Boeing Company’s (NYSE:BA) reported proposition to acquire Spirit Aerosystems Holdings, Inc. (NYSE:SPR) in a deal valuing the company at approximately $35 per share.
Subin says that if confirmed, the buyout aligns with their expectation that Boeing would aim to offer a price reflecting a reasonable premium compared to Spirit’s pre-announcement trading level (estimated around 20%, which would represent approximately 22%).
The analyst adds that they view the $35 per share offer as reasonable for both Boeing and Spirit AeroSystems and would value Spirit AeroSystems at around $4.1 billion.
Based on Boeing’s closing price of $179.10 on Monday, acquiring Spirit AeroSystems at this price ...