Boeing (BA) Sell-Off Could be Opportunity, Thinks RBC

July 12, 2013 3:49 PM EDT
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Price: $158.83 --0%

Rating Summary:
    14 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Shares of Boeing (NYSE: BA) sank on Friday in response to news about a fire on an Ethiopian Airlines 787 aircraft. Investors are especially sensitive given past difficulty with 787 batteries.

At this point details are scant, but RBC analyst Robert Stallard is recommending investors buy into today's sell-off. In the past the stock held up despite negative headlines, and suppliers were not impacted. Today's incident may have a similar outcome.

Additionally, TV images suggest the fire was in the back of the aircraft. This could mean the APU was not involved, wrote the analyst.

RBC Capital has an Outperform rating on Boeing with a price target of $116.00

For an analyst ratings summary and ratings history on Boeing (NYSE: BA) click here. For more ratings news on Boeing click here.

Shares of Boeing closed at $106.88 yesterday.

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