Boeing Shares Rally 28%; Bernstein, UBS Lift Targets to $277 and $285
Boeing’s shares climbed 28% last year and 4% YTD as Bernstein lifted its target from $267 to $277. UBS boosted its target to $285 from $275, citing improved free cash flow and production, while Jim Cramer said the shares could revisit $250 on China and Saudi deals.
1. Share Performance Surge
Boeing’s stock has gained 28% over the past year and 4% year-to-date, reflecting improving demand for its commercial jetliners and a recovering defense segment. The sustained rally follows production ramp-ups on key models and upbeat delivery schedules.
2. Bernstein and UBS Raise Targets
In January, Bernstein bumped its price target from $267 to $277 and maintained an Outperform rating, citing satisfactory progress on the 767 and 787 programs. UBS followed suit, raising its target to $285 from $275 and highlighting strengthened free cash flow and streamlined production processes.
3. Cramer Highlights $250 Potential
Jim Cramer labeled Boeing as one of his favorites, pointing to chatter of major wins in China and Saudi Arabia. He suggested that continued operational improvements could drive the share price back toward the $250 level.