Boeing Upgraded to “Overweight” at Morgan Stanley; New Plane Orders Should Boost Earnings (BA)
Aircraft maker The Boeing Company ( BA ) on Monday caught a big upgrade from analysts at Morgan Stanley following a big plane order from Etihad Airways.
The firm said it boosted its rating on BA from "Equalweight" to "Overweight" with an $82 price target. That target suggests a 14% upside to the stock's Friday closing price of $71.93.
Morgan Stanley made the move following Boeing's announcement that United Arab Emirates airline giant Etihad Airways has ordered ten Boeing 787-9 Dreamliners and two Boeing 777 Freighters. Those new orders carry a price tag of around $2.8 billion.
Boeing shares fell 42 cents, or -0.6%, in premarket trading Monday.
The Bottom Line
Shares of Boeing ( BA ) have a 2.34% dividend yield, based on Friday's closing stock price of $71.93. The stock has technical support in the $65 price area. If the shares can firm up, we see overhead resistance around the $75 price level.
The Boeing Company ( BA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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