Goldman Sachs Adds Boeing (BA) to Conviction Buy List, Sees 37% Upside

Goldman Sachs added Boeing (NYSE: BA) to its Conviction Buy with a price target of $86, suggesting 37% upside.

The firm said Boeing is attractive in a less certain macro backdrop due to the secular drivers it offers beyond the cyclical. Most notably the 787 product cycle and the unusually large backlog.

Goldman also notes the stock has underperformed since the Paris airshow and their are multiple catalysts in the 2nd-half to reverse that. Some of those catalysts include: that: 787 and 747-8 certifications and first deliveries all likely happen in August and September, the AMR order could drive other legacies to rush to get a spot in line, expect a strong 3Q EPS.

For more ratings news on Boeing click here and for the rating history of Boeing click here.

Shares of Boeing closed at $62.75 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• William Blair Upgrades Moderna (MRNA) to Outperform, 'we believe Moderna has a clear line of sight to revenue diversification from the COVID business
• DA Davidson Upgrades Duolingo Inc. (DUOL) to Buy
• Jefferies Upgrades Dollar Tree (DLTR) to Hold