Cowen & Co. Remains a Buy on Boeing (BA)

By Ryan Adsit

In a report released today, Cai Rumohr from Cowen & Co. maintained a Buy rating on Boeing (BAResearch Report), with a price target of $460. The company’s shares closed yesterday at $354.88.

According to TipRanks.com, Rumohr is a 5-star analyst with an average return of 13.7% and a 70.0% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as American Outdoor Brands Corp, General Dynamics Corp, and L3 Technologies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Boeing with a $421.61 average price target, a 18.8% upside from current levels. In a report issued on May 17, Robert W. Baird also maintained a Buy rating on the stock with a $470 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 $22.91 billion and net profit of $2.15 billion. In comparison, last year the company earned revenue of $23.38 billion and had a net profit of $2.47 billion.

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