Sterne Agee Increases Boeing Price Target to $164.00 (BA)
Research analysts at Sterne Agee boosted their price objective on shares of Boeing (NYSE:BA) from $120.00 to $164.00 in a report released on Monday, AR Network reports. The firm currently has a “buy” rating on the stock. Sterne Agee’s target price points to a potential upside of 47.31% from the stock’s previous close.
The analysts wrote, “We are raising our price target on BA by $44 to $164 (12x 2015E FCF per share) reflecting a new forecast for aircraft deliveries resulting in very favorable FCF during 2014-2018. Our model now reflects higher 787 deliveries as production ramps further in mid decade along with out year increases as the 737-MAX enters production. With ~5,000 aircraft in backlog, BA’s unmatched visibility makes it a must-own stock within mega-cap industrials. We see over 50% upside in BA over the next 12-18 months.”
Shares of Boeing (NYSE:BA) traded up 3.75% during mid-day trading on Monday, hitting $115.50. The stock had a trading volume of 4,427,671 shares. Boeing has a 1-year low of $69.03 and a 1-year high of $111.33. The stock has a 50-day moving average of $105. and a 200-day moving average of $96.94. The company has a market cap of $87.138 billion and a price-to-earnings ratio of 20.36.
Boeing (NYSE:BA) last released its earnings data on Wednesday, July 24th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.54 by $0.13. The company had revenue of $21.80 billion for the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Boeing will post $6.52 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BA. Analysts at CRT Capital raised their price target on shares of Boeing (NYSE:BA) from $105.00 to $123.00 in a research note to investors on Friday, August 23rd. They now have a “buy” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Boeing (NYSE:BA) in a research note to investors on Wednesday, August 21st. Finally, analysts at UBS AG reiterated a “neutral” rating on shares of Boeing (NYSE:BA) in a research note to investors on Tuesday, August 20th.
Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Boeing currently has an average rating of “Buy” and an average price target of $118.00.
The Boeing Company (NYSE:BA) is an aerospace company.
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