Boeing PT Raised to $100.00 at Sterne Agee (BA)
The analysts wrote, “Last night, the FAA approved the certification plan for the redesigned 787 battery system that includes components to minimize initiation of a short circuit, better insulation of the cells and a new containment and venting system. Additionally, Ryanair is set to place an order for ~200 737NGs valued at ~$8 billion, cementing the production bridge to 737 MAX in 2017. We are raising our price target on BA by $13 to $100, 14x P/E multiple for 2014E or based on only 10x FCF per share multiple.”
A number of other firms have also recently commented on BA. Analysts at BB&T Capital Mkts upgraded shares of Boeing from an “underweight” rating to a “hold” rating in a research note to investors on Wednesday. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Boeing in a research note to investors on Wednesday. They now have a $100.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Boeing from $85.00 to $100.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock.
Eighteen investment analysts have rated the stock with a buy rating, one has given an overweight rating, five have given a hold rating, one has issued an underweight rating, and one has issued a sell rating to the stock. The company has an average rating of “overweight” and an average target price of $88.25.
Boeing traded up 0.70% on Wednesday, hitting $84.75. Boeing has a 52-week low of $66.82 and a 52-week high of $84.62. The stock’s 50-day moving average is currently $76.46. The company has a market cap of $64.085 billion and a price-to-earnings ratio of 16.48.
Boeing last issued its quarterly earnings data on Wednesday, January 30th. The company reported $1.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.10. The company had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22.24 billion. During the same quarter last year, the company posted $1.32 earnings per share. Boeing’s revenue was up 14.0% compared to the same quarter last year. Boeing has set its FY13 guidance at $5.00-5.20 EPS. On average, analysts predict that Boeing will post $6.39 earnings per share for the current fiscal year.
The Boeing Company (Boeing) is an aerospace company. The Company operates in five segments: Commercial Airplanes, Boeing Military Aircraft (BMA), Network & Space Systems (N&SS), Global Services & Support (GS&S) and Boeing Capital Corporation (BCC).
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