At More Than $200 a Share, Is Boeing Still a Buy? 1 Analyst Thinks So
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Strange as it may seem for a large, "old economy" industrial stock, shares of Boeing (NYSE: BA) have flown 56% higher over the past year -- four times better than the rest of the S&P 500. Of course, at a new and improved stock price of $207.52 (this morning), Boeing stock looks really expensive right now, selling for more than 25.4 times trailing earnings.
But according to investment banker JPMorgan, it's not expensive. This morning, analysts at JPMorgan announced they are upgrading Boeing stock to overweight (i.e., buy). What's more, even if you think Boeing stock looks expensive at $207 and change, JP thinks it can go higher -- as high as $240 a share, in fact. Why?
Source: Fool.com
Boeing Co. Stock
Currently there is a rather positive sentiment for Boeing Co. with 30 Buy predictions and 5 Sell predictions.
With a target price of 233 € there is a positive potential of 39.49% for Boeing Co. compared to the current price of 167.04 €.
