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Alembic Global Believes Boeing (BA) Won’t Stop Here


Alembic Global analyst Peter Skibitski reiterated a Buy rating on Boeing (NYSE: BA) today. The company’s shares closed yesterday at $385.44, close to its 52-week high of $394.28.

Skibitski commented:

“We are including $711m for KLX in our 2018 Services revenue estimate and $1.6B in 2019. We are also increasing our Defense segment forecast, albeit modestly, as we believe the recent Force helicopter wins are past the protest period. We do not yet include the T-X win in our assumptions.”

According to TipRanks.com, Skibitski is a 5-star analyst with an average return of 19.3% and a 81.6% success rate. Skibitski covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, L3 Technologies Inc, and Huntington Ingalls.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Boeing with a $426.40 average price target, which is a 10.6% upside from current levels. In a report issued on October 1, Cowen & Co. also maintained a Buy rating on the stock with a $445 price target.

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Based on Boeing’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $24.26 billion and net profit of $2.2 billion. In comparison, last year the company earned revenue of $24.31 billion and had a net profit of $1.85 billion.

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