Embraer Rating Reiterated by Zacks (ERJ)
Embraer (NYSE:ERJ)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Wednesday, StockRatingsNetwork.com reports. They currently have a $32.00 target price on the stock. Zacks‘ target price suggests a potential upside of 4.03% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Embraer S.A. The company has already met its delivery targets for the commercial and executive segments in 2013 and is expected to reach its revenue goal. Moreover, the launch of the advanced E-2 commercial aircraft and strong inflow of fresh contracts primarily on the back of a rising demand for regional aircraft will likely sustain future growth for the company. Embraer’s focus on research and development activities, systematic inorganic growth strategy and continuous investments in new service centers will keep it well positioned. A stable liquidity position allows the company to enter into new ventures. However, we remain concerned about currency risk and the highly competitive industry that is forcing Embraer to incur high costs.”
Shares of Embraer (NYSE:ERJ) traded up 1.04% on Wednesday, hitting $31.08. The stock had a trading volume of 856,066 shares. Embraer has a 1-year low of $28.31 and a 1-year high of $39.47. The stock’s 50-day moving average is $32.21 and its 200-day moving average is $32.65. The company has a market cap of $5.679 billion and a P/E ratio of 27.01.
ERJ has been the subject of a number of other recent research reports. Analysts at Credit Suisse initiated coverage on shares of Embraer in a research note to investors on Monday, January 27th. They set an “underperform” rating on the stock. Analysts at Citigroup Inc. upgraded shares of Embraer from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $38.63.
Embraer-Empresa Brasileira de Aeronautica SA (NYSE:ERJ) is engaged in the manufacturing of commercial aircraft.
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