ERJ - Embraer hits 52-week high after boosting forecast for deliveries revenue

2023-03-10 12:24:27 ET

Embraer ( NYSE: ERJ ) on Friday rose as much as 8.7% to hit a 52-week high of $15.03 a share after the Brazilian plane maker increased its forecast for revenue and aircraft deliveries.

The company estimated its net revenue will reach $5.2 billion to $5.7 billion this year, indicating growth of as much as 27%.

It's goal is to deliver 65 to 70 commercial jets in 2023, up from 57 last year. Embraer ( ERJ ) also aims to deliver 120 to 130 executive jets, up from 102 in 2022.

Seeking Alpha columnist Mike Zaccardi has a Buy rating on Embraer ( ERJ ) based on rising demand for travel . Valkyrie Trading Society rates Embraer ( ERJ ) a Buy on its effort to cut debt .

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