Credit Suisse Raises Price Target on Boeing (BA)
Credit Suisse reported on Wednesday that it has increased its price target for aerospace company, The Boeing Company (BA).
The firm has reaffirmed an “Outperform” rating on BA, and has raised the company’s price target from $87 to $88. This price target suggests a 10% upside from the stock’s current price of $78.92.
An analyst from the firm commented, “We believe shares would have moved already on January’s favorable guidance methodology adjustment if not for the battery, which we see as largely priced in. That said, once these 787 issues are resolved (as we expect they will be), we see BA shares at or near full value in the high 80′s and would move to suppliers with content growth stories and greater incremental margins to play the OE cycle on a longer-term basis.”
Boeing shares were mostly flat during Wednesday afternoon trading. The stock has increased 8% in the past year.
The Bottom Line
Shares of The Boeing Company(BA) have a 2.46% yield, based on Wednesday afternoon’s price of $78.90.
The Boeing Company(BA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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