UPDATE: Societe Generale Upgrades Boeing to Hold on Multiple Positive Factors
In a report published Thursday, Societe Generale analyst Zafar Khan upgraded the rating on The Boeing Company (NYSE: BA) from Sell to Hold, and raised the price target from $86.00 to $94.00.
In the report, Khan noted, “After trading in the $60-$75 range between 2010 and 2012, Boeing shares have had a good run year-to-date and are up some 22% over the past three months. This strong performance reflects an element of ‘catching up' with the civil peers as well as relief on the 787 battery fix approval from the US aviation regulators and solid Q1 results. With deliveries resumed and the 787 targeted to reach full production of 10/m by the end of the year we see strong cash generation in the medium term supporting the buyback programme as well as dividend increases. Given the group's significant relative underperformance against civil peers over the past three years, we upgrade to ‘Hold'.”
The Boeing Company closed on Thursday at $94.61.
Latest Ratings for BA
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