UPDATE: Jefferies Reiterates Buy, $87 PT on Boeing on Outlook
Jefferies reiterated its Buy rating - Conviction List - and $20 price target on Boeing (NYSE: BA) following insights from a company management event.
Jefferies noted, "Boeing hosted investors at a reception for Mr. Ray Conner, the new President of Commercial Airplanes, and its senior finance staff. Our EPS estimates for 2012 and 2013 remain unchanged at $4.70 and $5.65. We believe the company's current book of business coupled with its operational excellence could deliver above average shareholder returns."
Boeing closed at $71.52 on Tuesday.
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