Stifel Nicolaus reported on Thursday that it has raised its price target on aerospace company, The Boeing Company (BA).
The firm has reiterated a “Buy” rating for BA, and has increased the company’s price target from $85 to $100. This price target suggests a 15% increase from the stock’s current price of $84.87.
An analyst from the firm commented, “as the price of BA shares approaches our target, we reviewed the current situation on earnings, news stories about formal introduction of the 777X, a large 737NG order from Ryanair that could make the transition to the 737MAX model less lumpy, and getting closer to flight testing the battery fix for 787 and, hopefully, lifting the grounding order. (Last night the FAA announced approval for Boeing to move forward with testing.) Based upon our review, we reiterate our Buy rating and are raising our target price to $100 from $85.”
Boeing shares were mostly flat during premarket trading Thursday. The stock has increased 15% in the past year.
The Bottom Line
Shares of The Boeing Company (BA) have a 2.29% yield, based on Wednesday’s closing price of $84.75.
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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