Deutsche Bank Has Note On Boeing (BA)

Duetsche Bank has a research note on Boeing

after it was revealed today that the company had an order with China for 200 planes, worth $19 billion. It has a Buy rating and a $83 price target on shares. In the note to investors, Deutsche Bank writes, "The level of undisclosed commercial aircraft orders in Boeing's backlog has been on the rise over the last few years and today's disclosure that China has 200 aircraft previously classified as unidentified addresses the bulk of the 259 total unidentified aircraft in backlog. Although, we were hopeful for incremental orders to the backlog from the Chinese visit, the disclosure does make us feel better about the quality of the backlog, particularly on the 737 where 10% was previously classified as unidentified, and given the near‐in timeline of planned delivery (2011‐2013) further supporting Boeing's case for raising production rates higher." Shares of BA are off 94 cents to $71.53, a loss of 1.3% today.