Jefferies Affirms Boeing (BA) at 'Buy' Following Receipt of $2.8B DoD Contract Modification for KC-46 Tanker
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies affirms Boeing (NYSE: BA) at Buy with a price target of $165 following news that the DoD awarded the company a $2.81 billion contract for 19 LRIP KC-46 aircraft.
The firm commented today:
The award obligates the full $2.8 billion, which will fund the assembly of the aircraft. At the end of the second quarter of 2016, the company had capitalized precontract costs of $1.56 billion, largely related to the KC-46 Tanker. The award recognizes the company has completed the testing for the plane to perform its mission. We would expect that serial production of the aircraft should be accomplished with far less disruption than was experienced during the development program. In time, we believe the plane can be used for other applications that could range from cargo to ISR. Current plans call for the company to build 179 of the aircraft. The Pratt & Whitney unit of United Technologies supplies the engines.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM): Closer Look Shows The - Jefferies
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
- Exclusive: Spirit AeroSystems mulls sending U.S. supply chain jobs overseas
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!