Boeing, the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Douglas Harned from Bernstein maintained a Buy rating on the stock and has a $282.00 price target.
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Douglas Harned has given his Buy rating due to a combination of factors that indicate a positive outlook for Boeing. The company has shown improvement in its 737 and 787 production rates, with expectations to increase production to 38 and 42 units per month, respectively, by the end of the year. Additionally, discussions at key industry events have bolstered confidence in these production ramps.
Furthermore, Boeing’s Defense, Space & Security Systems division is expected to benefit from substantial funding for projects like the F-47, F-15EX, T-7A, and MQ-25, despite the cancellation of the Wedgetail E-7. The Global Services division is also maintaining strong margins, aided by a shift towards commercial aerospace aftermarket services. These factors, combined with improved cash flow estimates, support the raised price target of $282, reinforcing the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $210.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BA in relation to earlier this year.