Boeing Co (NYSE:BA) and Polska Grupa Zbrojeniowa (PGZ), one of the largest defence groups in Europe, have signed a broad-based agreement outlining areas where Boeing and PGZ member companies may collaborate in support of the Technical Modernization Plan of the Polish Armed Forces.
Boeing will access talent and innovation within Poland’s defense industry while cooperating with PGZ companies in advancing their business goals. Together they will explore opportunities to support, sustain and upgrade defense systems; integrate unique Polish systems on Boeing platforms; strengthen manufacturing capabilities; incorporate PGZ companies in Boeing’s supply chain; pursue joint research and development and advance defense industrial capabilities.
“PGZ member companies are diverse and have the potential to play an even larger role in the international aerospace and defense industry. The collaboration opportunities available through Boeing’s expansive military, commercial, security and space portfolios can turn potential into reality for PGZ,” said Jeff Kohler, Boeing’s vice president for International Business Development for Defense, Space & Security.
“Since its establishment, PGZ’s priority has been to make its business activity as international as possible. We find it particularly important to conclude such agreements with foreign partners that, on one hand, are going to support the execution of the Technical Modernization Plan of the Polish Armed Forces and, on the other hand, are going to incorporate PGZ companies in international supply chains,” said Wojciech Dąbrowski, President of the Management Board of PGZ. “I am convinced that cooperation between PGZ and Boeing will be fruitful for both parties. This is an opportunity for PGZ companies to achieve innovation growth and enter new business areas.”
One of the first Boeing platforms offering potential for Polish industry collaboration is the AH-64E Apache, which is a candidate for Poland’s attack helicopter requirement as part of the country’s defense modernization program. Boeing and its AH-64E Apache industry team – which includes General Electric, Lockheed Martin, Raytheon and Longbow Ltd. – recently participated in a two-day workshop with 10 PGZ companies to forge partnerships as part of Poland’s Kruk Program. Boeing and its industry partners will continue to work with PGZ companies to identify opportunities across other military and commercial platforms and systems. (Original Source)
Shares of Boeing opened today at $128.71 and are currently trading down at $128.7. BA has a 1-year high of $158.83 and a 1-year low of $115.14. The stock’s 50-day moving average is $140.67 and its 200-day moving average is $144.79.
On the ratings front, Boeing has been the subject of a number of recent research reports. In a report issued on August 26, Standpoint Research analyst Ronnie Moas initiated coverage with a Buy rating on BA and a price target of $160, which represents a potential upside of 24.3% from where the stock is currently trading. Separately, on August 24, Deutsche Bank’s Myles Walton maintained a Buy rating on the stock and has a price target of $175.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Myles Walton have a total average return of 6.7% and 3.7% respectively. Moas has a success rate of 68.2% and is ranked #25 out of 3742 analysts, while Walton has a success rate of 50.0% and is ranked #979.
Overall, one research analyst has assigned a Hold rating and 10 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $162.67 which is 26.4% above where the stock opened today.
Boeing Co, together with its subsidiariesdesigns, develops, manufactures, sells and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services.