Deutsche Bank Sees Little AMR Impact On Boeing

Shares of Dow component Boeing

are trading modestly higher today despite news of AMR

, parent company of American Airlines, filing voluntary Chapter 11 bankruptcy petitions. In a research note, Deutsche Bank said it sees little impact from the AMR move on Boeing and reiterated a Buy rating and $83 price target on the aerospace giant. “In the case of Boeing, we see relatively little impact. Boeing Capital has about $360M in portfolio exposure, which would be revalued. However, we feel relatively comfortable with AMR's desire to take their Boeing (and Airbus) orders in backlog. AMR was set to take 15, 28, 14 737 aircraft in'11, '12, and '13, respectively, and 1 777 in 2012, Deutsche Bank said in the note.