Boeing (BA) Is Cowen Aerospace Analyst's Top Pick, Possible Grounding Lift In 5 Weeks

Cowen analyst Cai von Rumohr reiterated an Outperform rating and $460.00 price target on Boeing (NYSE: BA) noting that he likes BA's careful approach to getting MAX back into service, focused on customer concerns and orderly recovery in deliveries.

The analyst stated "BA's first potential milestone in trying to get MAX grounding lifted is its FAA certification
test flight and meeting of the FAA with international regulators scheduled for Dallas on May 23. Boeing will not be in attendance to assure that it isn't influencing discussions; and while the meeting could lead to lift of the U.S. grounding, the FAA also could require additional testing and documentation." "This suggests gradual lift in 737 production but still allowing 2020 CFPS of $30/sh. Selling for an 8.5% CF yield, it's our #1 pick. FAA grounding lift possible in the next 4-5 weeks could bolster sentiment on the stock".

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 $354.13 yesterday.

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