In a research report sent to investors today, Deutsche Bank analyst Myles Walton reiterated a Buy rating on Boeing (NYSE:BA) and raised his price target to $175 (from $155), following the company’s fourth-quarter results, posting EPS of $2.31 which tracked ahead of Deutsche Bank’s $2.17 and the Street’s $2.12 estimates.

Walton observed, “The focus of the release and the call was cash flow which was very impressive in the quarter at $4.9B ($2B better than our estimate and $3B better than the company’s guidance). This resulted in full year FCF of $7.2B, $1B above where consensus was in Jan 2014 before mgmt’s conservative guidance ($3.75B) stunted the ’12 stock performance. Maintain Buy on cash flow dynamics and upside to price target.”

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.