Citigroup downgraded Embraer shares from “hold” to “sell” on Friday, citing its valuation, but raised the price target for shares from USD31 to USD37. On 28-Jan-2011, Morgan Stanley upgraded Embraer from “equal weight” to "overweight”.
The Brazilian manufacturer's shares gained a further 3.6% yesterday. Boeing was meanwhile slightly higher yesterday and Airbus' parent EADS gained 2.5%.
Selected original equipment manufacturers' share price movements: (% change): 07-Feb-2011