Benzinga | Sep 29, 2021 02:15PM EDT

Why Spirit AeroSystems Stock Is Trading Higher Today

Spirit AeroSystems Holdings Inc (NYSE:SPR) is trading higher Wednesday after Bernstein analyst Douglas Harned upgraded the stock from Market Perform to Outperform and raised the price target from $53 to $66.

"We are finally heading to the inflection point for global travel," Harned said.

The Berstein analyst cited an increased traffic and capacity forecast, as well as raised delivery outlooks as reasons for the upgrade.

Spirit AeroSystems designs and manufactures aerostructures, particularly fuselages, for commercial and military aircraft. The company was spun out of Boeing Co (NYSE:BA) in 2005, and the firm is the largest independent supplier of aerostructures.

SPR Price Action: Spirit AeroSystems has traded as high as $53.63 and as low as $17.60 over a 52-week period.

The stock was up 6.24% at $45.85 at time of publication.