No one can deny that last week was a winner for aerospace stock Boeing (BA). And analysts are starting to take notice of Boeing’s recent streak of successes as well. One analyst recently hiked the price target on Boeing, noting that there was “…still more upside potential afoot.” That price hike meant plenty to current investors as well, as Boeing shares gained modestly in Tuesday afternoon’s trading.
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Bernstein, via analyst Douglas Harned—who has a four-star rating on TipRanks—not only left the Outperform rating in place, but also bolstered the price target, sending it up from $218 to $249 per share. That suggests a 21% upside potential for the stock against yesterday’s closing.
Harned had a lot of good to say about Boeing too, noting that its defense business is potentially looking like a big cash generator once more. Last week’s remarkable wins were not lost on Harned either, as he pointed out the same things we did: it was a monster week of wins for Boeing. And as such, Boeing’s “history of momentum” looked like it could carry on. Of course, Harned warned, “none of this is without risk.” After all, Boeing has made “…many missteps over the last decade.” Still, with things lining up in favor of Boeing, it was now to the point where “…there is more risk in not owning a stock with a history of momentum.”
Cracks Fixed
Speaking of defense at Boeing, the problems in the KC-46 Pegasus tankers seem to have been patched up, and Boeing is restarting deliveries of these flying gas stations to the United States Air Force. The deliveries in question had been paused for three months after cracks were found in the aircraft.
There were no safety-of-flight issues, reports noted, and the fixes seem to be taking hold. The problems, however, are not all taken care of. Reports note that the Remote Vision System 2.0, which guides the fuel boom into receiving aircraft, is now delayed to summer of 2027 for unknown causes. And the list of problems that have yet to be addressed is still substantial, with half a dozen “outstanding deficiencies” still involved, reports note.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 15 Buys, four Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 11.08% rally in its share price over the past year, the average BA price target of $213.37 per share implies 3.16% upside potential.
