9 Best Dow Stocks to Buy According to Analysts

2. Boeing Co (NYSE: BA)

Average Upside Potential as of October 23: 23.74%

Number of Hedge Fund Holders: 42

Down by about 50% over the past five years, Boeing Co (NYSE:BA) has lagged the Dow Jones index and the overall market. While the company boasts of a Competitive edge and virtual duopoly in the aerospace industry, a string of quality control and legal challenges have dragged the brand’s reputation down the drain. The aerospace giant has struggled with manufacturing problems, management turmoil, and horrible financial results.

A string of safety issues touching on aeroplanes has caused Boeing Co (NYSE:BA) to get hit with billions of fines and fees, rattling its sentiments in the market. While employee strikes in recent weeks have exacerbated the situation, the company’s long-term prospects remain intact, affirming why it is one of the best Dow stocks to buy, according to analysts.

Boeing Co (NYSE:BA) and Airbus operate as a virtual duopoly in the large commercial jet aircraft market. It is a significant U.S. military contractor as well. Therefore, there is very little chance that its customers will abruptly stop purchasing its products in the near future. Rival Airbus has such a large backlog that it rejects some orders because it cannot produce the planes quickly enough. Consequently, regardless of its issues, Boeing will always have business at its exposure.

Without a doubt, Boeing Co (NYSE:BA) faces difficulties, and it is uncertain if it can finance the next generation of narrow-body aircraft within the next ten years. Nevertheless, its multi-year backlog guarantees its long-term prospects.  Likewise, investors rate Boeing as a Buy with an average price target of $197.83, implying a 23.74% upside potential.

By the end of the second quarter of 2024, a notable 42 out of the 912 hedge funds tracked by Insider Monkey had invested in Boeing Co (NYSE:BA).