UPDATE: Canaccord Genuity Initiates Coverage on The Boeing Company on Multiple Positive Factors

In a report published Thursday, Canaccord Genuity analyst Ken Herbert initiated coverage on

with a Buy rating and $140.00 price target. In the report, Canaccord Genuity noted, “We are initiating coverage of Boeing (BA) with a BUY rating and a $140 price target. We believe BA will continue to benefit from strong industry fundamentals and should see further upside to current production levels. Improving cash flows and cash deployment are the key drivers for the stock.” The Boeing Company closed on Wednesday at $114.47.