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

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

Wall Street is starting to take notice of the aerospace sector's recovery, growing increasingly optimistic about the prospects of the whole industry including beleaguered Boeing.

Friday evening, Morgan Stanley analyst Kristine Liwag moved her funding view about the aerospace industry to Attractive from Cautious. That's like going to Buy from Hold on a stock, except it's for an entire sector.

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

Air travel was decimated by the worldwide pandemic, taking aerospace and traveling stocks down with it. On April 14, 87,534 people boarded planes in the U.S., as reported by data from the Transportation Security Administration, the lowest number during the pandemic and down an amazing 96 % year over year. The number has since risen. On Sunday, 1.3 million folks passed by TSA checkpoints.

Investors already have noticed things are getting better for the aerospace industry as well as broader traveling restoration. Boeing stock rose more than 20 % this past week. Other travel related stocks have moved as well. American Airlines (AAL) shares, for example, jumped fourteen % this past week. United Airlines (UAL) shares rose 11 %. Inventory in cruise operator Carnival (CCL) rose nine %.

Items, nevertheless, can easily still get better from here, Liwag noted. BoeingStock are down about forty % from their all-time high. "From the chats of ours with investors, the [aerospace] group is still primarily under owned," had written the analyst. She sees Covid-19 vaccine rollouts and easing of cross country travel restrictions as additional catalysts which will drive sector stocks higher in the coming months.

Liwag rated Boeing shares Buy before publishing her updated business view. Other aerospace suppliers she proposes are Spirit AeroSystems (SPR) and Raytheon Technologies (RTX). The various other Buy rated stocks of her include defense suppliers like Lockheed Martin (LMT).

Lwiag's peers are actually coming around to her more bullish view. Over 50 % of analysts covering BoeingStock rate them Buy. At the April 2020 travel-nadir, that number was under forty %. FintechZoom analysts, however, are having problems keeping up with the latest gains. The average analyst price target for Boeing stock is just $236, under the $268 level which shares were 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 slightly.

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

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