Why Shares of Spirit AeroSystems Are Flying High Today
It's been a miserable year for investors in Spirit AeroSystems Holdings (NYSE: SPR), with the company weighed down by the impact of the pandemic on airlines and issues at its most important customer. But in recent days, investors have received good news on both of those fronts, and Spirit shares have been upgraded, helping to propel the stock 13% higher on Tuesday afternoon.
Spirit AeroSystems, a former subsidiary of Boeing (NYSE: BA), still counts on its former parent for nearly three-quarters of its revenue. Spirit makes the fuselage and other components for Boeing's 737 MAX, a plane that has been grounded since March 2019 by safety concerns.
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Source Fool.com
