Boeing: shares outperform on Morgan Stanley upgrade
(CercleFinance.com) - Shares of Boeing slightly rose on Monday in a bearish US stockmarket after a Morgan Stanley upgrade spurred some bargain hunting on the stock.
Morgan Stanley - which upgraded Boeing from "equal weight" to "overweight" and raised its target price to 450 dollars - noted that the shares have fallen about 15% from their peaks, creating a "favorable bull-bear skew."
"In addition, we see foresee compounding growth coming from buybacks, production hikes,and margin improvement (15-20%), all from a management thathas proven to be best-in-class," the broker wrote in a note.
Boeing shares were up 0.3% at 344 dollars after these comments, outperforming the 0.4% fall in the Dow Jones today. They are still down by 6% over the past three months.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Morgan Stanley - which upgraded Boeing from "equal weight" to "overweight" and raised its target price to 450 dollars - noted that the shares have fallen about 15% from their peaks, creating a "favorable bull-bear skew."
"In addition, we see foresee compounding growth coming from buybacks, production hikes,and margin improvement (15-20%), all from a management thathas proven to be best-in-class," the broker wrote in a note.
Boeing shares were up 0.3% at 344 dollars after these comments, outperforming the 0.4% fall in the Dow Jones today. They are still down by 6% over the past three months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.