Cowen & Co. Believes Boeing (NYSE: BA) Still Has Room to Grow

By Carrie Williams

Cowen & Co. analyst Cai Rumohr maintained a Buy rating on Boeing (NYSE: BA) today and set a price target of $430. The company’s shares opened today at $347, close to its 52-week high of $374.48.

According to TipRanks.com, Rumohr is a 5-star analyst with an average return of 17.3% and a 74.5% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as American Outdoor Brands Corp, General Dynamics Corp, and L3 Technologies Inc.

Currently, the analyst consensus on Boeing is a Moderate Buy with an average price target of $400.50, implying a 15.4% upside from current levels. In a report issued on June 28, Bernstein also reiterated a Buy rating on the stock with a $422 price target.

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Based on Boeing’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $23.38 billion and net profit of $2.47 billion. In comparison, last year the company earned revenue of $22.74 billion and had a net profit of $1.76 billion.

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