Boeing Now Covered by Analysts at Canaccord Genuity (BA)
Stock analysts at Canaccord Genuity initiated coverage on shares of Boeing (NYSE:BA) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We are initiating coverage of Boeing (BA) with a BUY rating and a $140 price target. We believe BA will continue to benefit from strong industry fundamentals and should see further upside to current production levels. Improving cash flows and cash deployment are the key drivers for the stock.”
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee reiterated a “buy” rating on shares of Boeing in a research note to investors on Friday, October 4th. They now have a $164.00 price target on the stock. Separately, analysts at CRT Capital raised their price target on shares of Boeing from $123.00 to $142.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Finally, analysts at Buckingham Research raised their price target on shares of Boeing from $122.00 to $136.00 in a research note to investors on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $122.77.
Shares of Boeing (NYSE:BA) traded up 2.05% during mid-day trading on Wednesday, hitting $116.82. The stock had a trading volume of 596,706 shares. Boeing has a 52 week low of $69.30 and a 52 week high of $120.38. The stock has a 50-day moving average of $111.7 and a 200-day moving average of $101.6. The company has a market cap of $88.134 billion and a price-to-earnings ratio of 20.93.
Boeing (NYSE:BA) last issued its quarterly 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. Analysts expect that Boeing will post $6.52 EPS for the current fiscal year.
The Boeing Company (NYSE:BA) is an aerospace company.
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