TGI - Boeing suppliers Hexcel and Triumph cut Spirit Aero raised at Credit Suisse

Hexcel ([[HXL]] -4.0%), Triumph Group ([[TGI]] -6.4%) and Spirit AeroSystems ([[SPR]] -2.2%) all sink into the red after Credit Suisse shuffles ratings for the three key Boeing suppliers.Hexcel is downgraded to Underperform from Neutral with a $40 price target, as analyst Robert Spingarn sees greater recovery risk relative to the rest of its coverage universe without commensurate valuation support.Lower operating marketing assumptions lead the firm to cut EPS estimates to $0.20 for 2020, $0.64 for 2021 and $1.69 for 2022.Triumph is trimmed to Neutral from Outperform with a $14 target, as Spingarn sees limited potential for further upside due to potentially lower defense budgets in the coming years, limited 737 MAX upside exposure with only 5% of pre-COVID sales, $2.17B pro forma net debt and potential further equity dilution to fund its pension.The firm lowers Triumph EPS estimates to a $0.12 loss for 2021, $0.20 for 2022 and $1.57 on

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Boeing suppliers Hexcel and Triumph cut, Spirit Aero raised at Credit Suisse