Wells Fargo maintains an 'Outperform' on Boeing (BA); Highlights From Annual Investor Meeting
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Price: $226.39 -2.28%
Rating Summary:
32 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
32 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Wells Fargo maintains an 'Outperform' on Boeing (NYSE: BA) price target range $86-90.
Analyst, Sam J. Pearlstein, said, "On May 14-15, we attended Boeing’s annual investor meeting. Overall, while there was no change to any guidance, the meeting did provide some additional details on a number of key issues. We think Boeing makes a convincing case that most of the work needed to generate strong revenue, earnings and cash flow growth during this cyclical aerospace upturn is within Boeing’s own execution. As investors focus on 2013 and beyond, the primary focus should be on the large free cash flow generation as production rates increase, R&D expenditures moderate, and inventory of completed 787/747s ease. We expect the strength of Boeing’s free cash generation to lead to significant share repurchases and dividends that will be more important for the stock than the declining backlog beyond 2013. However, the return of cash to shareholders is a 2013 event and not a 2012 event."
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 $72.58 yesterday.
Analyst, Sam J. Pearlstein, said, "On May 14-15, we attended Boeing’s annual investor meeting. Overall, while there was no change to any guidance, the meeting did provide some additional details on a number of key issues. We think Boeing makes a convincing case that most of the work needed to generate strong revenue, earnings and cash flow growth during this cyclical aerospace upturn is within Boeing’s own execution. As investors focus on 2013 and beyond, the primary focus should be on the large free cash flow generation as production rates increase, R&D expenditures moderate, and inventory of completed 787/747s ease. We expect the strength of Boeing’s free cash generation to lead to significant share repurchases and dividends that will be more important for the stock than the declining backlog beyond 2013. However, the return of cash to shareholders is a 2013 event and not a 2012 event."
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 $72.58 yesterday.
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