Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Boeing

Share:
Related BA
Technical Alert - Boeing Rally Off Q2 Report Falls Shy Of Yearly High
The Market In 5 Minutes: Apple Surprises, Twitter Disappoints And Hillary Makes History
Real Estate Is Bigger Than REITs! Here's More. (Seeking Alpha)

In a report published Wednesday, Citigroup reiterated its Buy rating on Boeing (NYSE: BA), and raised its price target from $84.00 to $106.00.

Citigroup noted, “Earnings visibility is supported by planned production rate increases on profitable aircraft (737 & 777), offset by the dilutive new platforms (787 & 747) delivering in greater #s. Improved CF visibility is due to the wind-down of new development programs, which we believe will release working capital and support positive cash flow dynamics through 2012 ($20b of FCF through 2015E). Meanwhile, in our view BA's defense business is resilient due to in-demand helo platforms, a tanker program positioned to see decades of sales, and strong international positioning. Look for late 2012 decisions on dividends & repos to act as catalysts.”

Boeing closed on Tuesday at $74.13.

Latest Ratings for BA

DateFirmActionFromTo
Jun 2016Morgan StanleyInitiates Coverage onOverweight
Apr 2016Argus ResearchMaintainsBuy
Apr 2016Bank of AmericaDowngradesNeutralUnderperform

View More Analyst Ratings for BA
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (BA)

View Comments and Join the Discussion!