Sterne Agee Group reported that they have maintained their rating for aerospace company, The Boeing Company(BA) on Thursday.
The firm announced that they have reaffirmed a “Buy” rating and $87 price target on BA. This price target suggests a 11.5% increase from the stock’s current price of $77.
A Sterne Agee analyst noted, “based on our checks, BA delivered ~62 aircraft in December. There were an estimated 11 787 deliveries in December, a record month which raises the 2012 total 787 deliveries to 46 (5 above our forecast). Total 4Q12 deliveries are estimated at 163, 5 above our estimate. While the deliveries are higher, there is no change to our 4Q12 EPS estimate given the mix of higher low-margin 787 deliveries. However, 4Q12 cash flow from operations should be robust, topping $2 billion.”
Boeing shares were mostly flat during premarket trading Thursday. The stock has increased 5% in the past year.
The Bottom Line
Shares of Boeing (BA) have a 2.52% dividend yield, based on last night’s closing stock price of $77.07. The stock has technical support in the $72 price area. If the shares can firm up, we see overhead resistance around the $80-$82 price levels.
The Boeing Company(BA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.