Oppenheimer Upgrades Boeing (BA) to Outperform, 'The Dreamliner Awakes'
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Price: $102.25 -1.76%
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Oppenheimer upgraded Boeing (NYSE: BA) from Perform to Outperform and established a price target of $90. The firm said investors are ignoring the building momentum of the Dreamliner.
The firm said, "We believe macro-economic jitters and a recent slowdown in new commercial aircraft orders have caused investors to under-appreciate mounting evidence that the 787 program has finally begun to find its footing. As Boeing's most important multi-year growth driver and the program arguably least vulnerable to immediate macroeconomic pressures, the 787 has the potential to buoy Boeing's fundamentals and stock performance even under a scenario of spotty global economic growth. Moreover, while the 787's revenue growth and cash flow story is likely to unfold over an extended period, we see July's
Farnborough Airshow serving as a near-term catalyst."
For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.
Shares of Boeing closed at $71.96 yesterday, with a 52 week range of $56.01-$77.83.
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The firm said, "We believe macro-economic jitters and a recent slowdown in new commercial aircraft orders have caused investors to under-appreciate mounting evidence that the 787 program has finally begun to find its footing. As Boeing's most important multi-year growth driver and the program arguably least vulnerable to immediate macroeconomic pressures, the 787 has the potential to buoy Boeing's fundamentals and stock performance even under a scenario of spotty global economic growth. Moreover, while the 787's revenue growth and cash flow story is likely to unfold over an extended period, we see July's
Farnborough Airshow serving as a near-term catalyst."
For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.
Shares of Boeing closed at $71.96 yesterday, with a 52 week range of $56.01-$77.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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