Morgan Stanley Double-Upgrades Boeing (BA) to Overweight, Seeing a Clear Runway for Upside

(Updated - January 29, 2021 6:18 AM EST)

Morgan Stanley analyst Kristine T Liwag double-upgraded Boeing (NYSE: BA) from Underweight to Overweight with a price target of $230.00 (from $165.00). Morgan Stanley initiated coverage of the company in September with a cautious outlook on the belief that consensus was too optimistic and there was cancellation risk for new aircraft.

The analyst stated "With a low bar for expectations, and without any significant incremental headwinds in 2021, we now see a clear runway for Boeing for further upside. From our conversations with investors, the stock is largely under-owned. COVID-19 vaccine rollout through 2021, eventual easing of international borders, and improved airline booking trends are positive catalysts that could influence bears and sideliners to re-evaluate the bull thesis."

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 $197.23 yesterday.

You May Also Be Interested In

• New Street Research Upgrades Micron Technology (MU) to Buy
• Wells Fargo Upgrades FOX Corp. (FOXA) to Overweight
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy