BoeingStock – There is Plenty to Like About Aerospace Stocks, Including Boeing. Heres Why.
BoeingStock - There's Plenty to Like About Aerospace Stocks, Including Boeing. Here is Why. Wall Street is beginning to take notice of the aerospace sector's recovery, growing more and more optimistic about the prospects of the entire industry including beleaguered Boeing. Friday evening, Morgan Stanley analyst Kristine Liwag moved the investment view of her regarding […]

BoeingStock - There's Plenty to Like About Aerospace Stocks, Including Boeing. Here is Why.

Wall Street is beginning to take notice of the aerospace sector's recovery, growing more and more optimistic about the prospects of the entire industry including beleaguered Boeing.

Friday evening, Morgan Stanley analyst Kristine Liwag moved the investment view of her regarding the aerospace industry to Attractive from Cautious. That is just like going to Buy from Hold on a stock, besides it is for a complete sector.

She is also more bullish on shares of Boeing (ticker: BA), raising her price target to $274 from $250 a share. Liwag says there is a "line of sight to a healthier backdrop." That is good news for aerospace investors.

Air travel was decimated by the worldwide pandemic, taking aerospace as well as travel stocks down with it. On April fourteen, 87,534 people boarded planes in the U.S., as reported by details from the Transportation Security Administration, probably the lowest number throughout the pandemic and down an incredible 96 % year over year. The number has since risen. On Sunday, 1.3 million folks passed through TSA checkpoints.

Investors have already noticed things are getting better for the aerospace industry as well as broader travel recovery. Boeing stock rose in excess of 20 % this past week. Additional travel-related stocks have moved also. American Airlines (AAL) shares, for instance, jumped 14 % this past week. United Airlines (UAL) shares rose 11 %. Stock in cruise operator Carnival (CCL) rose 9 %.

Items, nevertheless, can continue to get much better from here, Liwag noted. BoeingStock are actually down about forty % from their all time high. "From our conversations with investors, the [aerospace] class is still largely under-owned," had written the analyst. She sees Covid 19 vaccine rollouts and easing of cross country travel restrictions as more catalysts which can drive sector stocks higher in the coming months.

Liwag rated Boeing shares Buy before publishing her updated industry view. Additional aerospace suppliers she advises are actually Spirit AeroSystems (SPR) and Raytheon Technologies (RTX). Her various other Buy-rated stocks include defense suppliers like Lockheed Martin (LMT).

Lwiag's peers are coming around to her much more bullish view. Around 50 % of analysts covering BoeingStock rate them Buy. At the April 2020 travel-nadir, that number was less than forty %. FintechZoom analysts, however, are having difficulty keeping up with recent gains. The average analyst price target for Boeing stock is just $236, below the $268 level which shares had been trading at on Monday.

BoeingStock was down aproximatelly 0.5 % in trading Monday. The S&P 500 and Dow Jones Industrial Average were both down somewhat.

BoeingStock - There's Plenty to Like About Aerospace Stocks, Including Boeing. Here is Why.

Leave a Reply

Your email address will not be published. Required fields are marked *