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Sterne Agee Reiterates Buy Rating, $87 PT on The Boeing Company

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In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $87.00 price target on The Boeing Company (NYSE: BA).

Sterne Agee noted, “Based on our checks, BA delivered ~62 aircraft in December. There were an estimated 11 787 deliveries in December, a record month which raises the 2012 total 787 deliveries to 46 (5 above our forecast). Total 4Q12 deliveries are estimated at 163, 5 above our estimate. While the deliveries are higher, there is no change to our 4Q12 EPS estimate given the mix of higher low-margin 787 deliveries. However, 4Q12 cash flow from operations should be robust, topping $2 billion.”

The Boeing Company closed on Monday at $75.36.

Latest Ratings for BA

DateFirmActionFromTo
Jul 2015JP MorganInitiates Coverage onOverweight
May 2015Credit SuisseInitiates Coverage onNeutral
Apr 2015CitigroupMaintainsBuy

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