Boeing Stock Climbs Higher After Barclays Upgrade, Price-Target Hike: Retail Opts To Stay Grounded
By Stocktwits Inc | First Published Jan 6, 2025, 8:33 PM ISTAccording to a CNBC report, Barclays analyst David Strauss believes the stock's upside mainly relies on sustained positive momentum for production and deliveries, which Boeing is poised to demonstrate this year.
Shares of Boeing Co (BA) were up over 2% at the opening bell on Monday after the firm upgraded the stock to ‘Overweight’ from ‘Equal Weight’ while raising the price target to $210 from $190.
The new price target implies over 23% upside from Friday’s closing level.
Latest Videos
According to a CNBC report, Barclays analyst David Strauss believes the stock's upside mostly relies on sustained positive momentum for production and deliveries, which Boeing is poised to demonstrate this year.
“While we don’t see an overwhelmingly compelling upside case on typical valuation metrics, we believe positive momentum on production, deliveries, and cash can carry the stock higher,” he said.
Barclays has cited the firm’s improved balance sheet and more reasonable outlook for free cash flow as two upgrade drivers. At the same time, the company’s new leadership and hard reset on Max plane production in the wake of the controversy have also acted as positives.
Despite the upgrade, retail sentiment surrounding the stock continued to trend in the ‘neutral’ territory (53/100), albeit with a higher score.
Stocktwits followers of the ticker took note of the upgrade, and most comments reflected optimism surrounding the stock.
Boeing has been in the news lately after a Jeju Air flight crash killed 179 people of the 181 passengers on board in what is seen as South Korea’s worst aviation disaster.
Last week, Bloomberg reported that the company and US prosecutors are working on a new deal to settle a criminal case arising out of two fatal 737 Max crashes.
Meanwhile, analysts have been optimistic on the stock lately. According to TheFly, Jefferies raised its price target on the stock to $205 from $200 while keeping a ‘Buy’ rating.
Notably, shares of the firm have lost over 25% over the last year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.