January 03, 2013 at 08:27 AM EST
Sterne Agee Reaffirms Rating on Boeing (BA)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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