Embraer shares rise as BofA/Merrill Lynch upgrade stock – Suppliers Share Wrap
Embraer shares rose 3.5%. The company’s stock was upgraded from "underperform" to "buy" by Bank of America/Merrill Lynch, citing its dividend yield and lower cost prospects. Embraer commenced construction of two new factories in Portugal, part of an EUR168 million manufacturing investment in the country. The factories will initially focus on logistical support for executive jets, moving on to wing and composite tail manufacturing.
