UPDATE: JPMorgan Upgrades Boeing (BA) to Overweight

JPMorgan analyst Seth M. Seifman upgraded Boeing (NYSE: BA) from Neutral to Overweight with a price target of $275.00 (from $260.00).

The analyst comments "We have been cautious on BA all year and Boeing (and therefore BA stock) is not out of the woods; however, there is a fairly defined catalyst path and the first of these – China’s MAX certification – is now in view. With other potential catalysts over the next year, we upgrade BA to OW, with a Dec-22 price target of $275. With the market near a record, we like that BA has company specific catalysts that should help, provided we avoid a recession or eternal COVID-19 waves. There is a tendency to expect big jumps in BA and that is a possibility, given the catalysts out there, but with tough work ahead for the company, we may be early and are prepared for a slog. Nevertheless, Boeing’s position at the center of global air travel offers confidence that it will recover financially over time and we believe risk-reward now skews favorably."

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 $226.62 yesterday.

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