Buy Boeing (BA) on Fire-Related Weakness - Wells Fargo

January 8, 2013 11:04 AM EST
Get Alerts BA Hot Sheet
Price: $158.02 -0.51%

Rating Summary:
    14 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
Trade BA Now!
Join SI Premium – FREE
Yesterday a Boeing Co. (NYSE: BA) 787 Deamliner caught fire at Boston's Logan International Airport. The fire took place in an electrical equipment bay, and reports indicate the fire started around the battery used for the auxiliary power unit. While complete details are still pending an NTSB investigation, trader wasted little time when it came to selling Boeing stock. This selloff is buying opportunity, in the view of analysts at Wells Fargo.

"The bottom line is we remain positive on Boeing stock. We expect the production ramp to continue. Importantly, any costs associated with retrofitting existing planes or changing the production system as a result of this incident would be recognized over the 1,100 unit accounting block and therefore, should not be material to near-term results," said analyst Sam J. Pearlstein.

Wells Fargo has an Outperform rating on Boeing.

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 $76.13 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Wells Fargo

Add Your Comment