1 Wall Street Analyst Thinks Boeing Stock Is Going to $262. Is It a Buy Around $191?

Continuing its loss of altitude for several months, shares of Boeing (NYSE: BA) are down about 28% since the start of the year. The stock's decline is especially disconcerting in light of the S 500's 9.4% ascent during the same period.

But one analyst thinks that the stock's decline stemming from its recent safety incidents won't last. In fact, Richard Safran, an analyst at Seaport Global, thinks that the aerospace stock is set to soar, setting a price target of $262 on Tuesday. With shares of Boeing closing at $191.37 on Monday, Zafran's price target implies upside of about 37%.

Safran predicates his auspicious price target on the belief that David Calhoun's resignation as CEO is a move that will help the company to get back on track. According to Thefly.com, Safran advised investors that the change in leadership was expected, and Boeing is still able to right the ship.

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Source Fool.com