Wells Fargo & Company Increases Boeing (NYSE:BA) Price Target to $103.00

Boeing (NYSE:BA) had its price target upped by equities research analysts at Wells Fargo & Company from $85.00 to $103.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 42.61% from the stock’s previous close.

Several other research firms have also issued reports on BA. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Boeing in a research report on Wednesday, October 30th. Barclays raised shares of Boeing from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $190.00 to $210.00 in a research note on Monday, January 6th. Susquehanna decreased their price objective on shares of Boeing from $210.00 to $200.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Citigroup decreased their price objective on shares of Boeing from $209.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Northcoast Research raised shares of Boeing from a “sell” rating to a “neutral” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.00.

Boeing Stock Performance

Boeing stock opened at $179.47 on Wednesday. The firm has a market cap of $110.95 billion, a price-to-earnings ratio of -13.91 and a beta of 1.52. Boeing has a 1 year low of $137.03 and a 1 year high of $214.63. The firm’s 50 day moving average price is $168.24 and its two-hundred day moving average price is $164.26.

Boeing (NYSE:BA) last posted its quarterly earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period in the previous year, the business posted ($0.47) EPS. As a group, equities analysts predict that Boeing will post -16.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Several institutional investors and hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc raised its holdings in Boeing by 54.2% in the 4th quarter. AdvisorNet Financial Inc now owns 2,021 shares of the aircraft producer’s stock worth $358,000 after acquiring an additional 710 shares during the period. Carnegie Investment Counsel raised its holdings in Boeing by 175.6% in the 4th quarter. Carnegie Investment Counsel now owns 4,619 shares of the aircraft producer’s stock worth $818,000 after acquiring an additional 2,943 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Boeing by 8.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 473,917 shares of the aircraft producer’s stock worth $72,075,000 after acquiring an additional 38,300 shares during the period. Principal Financial Group Inc. raised its holdings in Boeing by 6.1% in the 3rd quarter. Principal Financial Group Inc. now owns 666,244 shares of the aircraft producer’s stock worth $101,296,000 after acquiring an additional 38,332 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Boeing by 9.9% during the 3rd quarter. Jennison Associates LLC now owns 6,700,706 shares of the aircraft producer’s stock worth $1,018,775,000 after purchasing an additional 602,143 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.