UPDATE: Imperial Capital Re-Initiates The Boeing Company with In-Line Rating and $82 PT
Imperial Capital re-initiated its coverage on The Boeing Company (NYSE: BA) with an In-Line rating and a $82 price target on limited upside in the near term.
Imperial Capital commented, "Although risks associated with the 787 are declining, we believe that the expected slowdown in commercial orders heading into 2013 will limit multiple expansion on the stock. Moreover, earnings growth will be slowed by reductions in defense spending, and as deliveries accelerate of the lower margin new commercial aircraft, which creates an unfavorable mix, in our view."
The Boeing Company closed at $73.91 on Tuesday.
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