UPDATE: Sterne Agee Initiates Coverage on The Boeing Company

A report from Sterne Agee initiates coverage on The Boeing Company BA with a Buy rating and $82 price target. The report states, “Boeing is on the cusp of across-the-board production increases within the Boeing Commercial Aircraft (BCA) segment, especially with all critical milestones achieved for its two new programs, the 787 and 747-8. BCA is commencing 40% production increase across five airframe platforms through 2014. Its current 7-year commercial backlog topping 4,000 aircraft (including 737-MAX) represents a very solid position for BA, especially with the newest widebody 787 sold out through 2019 and the 737NG sold out through 2015.” BA closed yesterday at $65.09.