Editor’s Note: Related tickers: The Boeing Company (NYSE:BA), Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), Deutsche Bank AG (NYSE:DB), UBS AG (NYSE:UBS)
Boeing Expects 787 Battery Retrofits Done By Next Week (AviationWeek)
The Boeing Company (NYSE:BA) is 90 percent finished with retrofits of the battery system on its 787 Dreamliner and should finish the rest by next week, Ray Conner, president of the company’s commercial airplane division, told an investor conference on Wednesday. Conner told the conference he saw “great momentum” on the 787 program, after overheated batteries prompted a fleetwide grounding earlier this year. Production of the new airliner had reached seven airplanes a month and was on track to reach the projected level of 10 per month by the end of the year, Conner said.
Two Firms Raise Price Targets on Boeing (BA) (Dividend)
Bank of America Corp (NYSE:BAC)/Merrill Lynch and Citigroup Inc (NYSE:C) reported on Thursday that they have increased their price targets on aerospace giant The Boeing Company (NYSE:BA). Bank of America Corp (NYSE:BAC)/Merrill Lynch reported that it has increased its price target on The Boeing Company (NYSE:BA) to $120. This price target suggests a 19% upside to the stock’s current price of $97.46. Analysts from the firm believe that the company will likely see higher 737 and 787 deliveries. The firm currently has a “Buy” rating on The Boeing Company (NYSE:BA). …Citigroup Inc (NYSE:C) raised its own price target on The Boeing Company (NYSE:BA) to $118, suggesting a 17% upside from the stock’s current price. The firm also improved its estimates on BA due to the FCF deployment target of 80%.
Boeing’s Buy Rating Reaffirmed at Deutsche Bank (BA) (Zolmax)
The Boeing Company (NYSE:BA)’s stock had its “buy” rating restated by analysts at Deutsche Bank AG (NYSE:DB) in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. They currently have a $120.00 price target on the stock. BA has been the subject of a number of other recent research reports. Analysts at Oppenheimer raised their price target on shares of The Boeing Company (NYSE:BA) from $105.00 to $120.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at UBS AG (NYSE:UBS) raised their price target on shares of The Boeing Company (NYSE:BA) from $75.00 to $100.00 in a research note to investors on Tuesday.
Boeing Scores China Clearance for Dreamliner (4-Traders)
China has cleared The Boeing Company (NYSE:BA) 787 planes for commercial service with the nation’s airlines, a development that could help The Boeing Company (NYSE:BA) lock in more orders from one of the world’s fastest-growing aviation markets. The Civil Aviation Administration of China’s decision comes less than a month after U.S. and Japanese authorities lifted a flight ban on the Dreamliner, which had been grounded world-wide since January after lithium-ion batteries burned on two planes.
McNerney: Boeing will squeeze suppliers and cut jobs (SeattleTimes)
The Boeing Company (NYSE:BA) Chief Executive Jim McNerney, acknowledging that “I’m sounding like Darth Vader here,” touted plans Wednesday to reduce costs by squeezing suppliers hard and cutting jobs across the company. Suppliers that don’t agree to cut their prices as contracts are renewed will find themselves on the outside, he made clear. “We have no-fly lists across the company,” McNerney said. “If a certain group is not working with us … they’ll be on a no-fly list. They’ll not be allowed to bid on new programs with The Boeing Company (NYSE:BA).”
