Wells Fargo Upgrades This Aerospace Giant, Sees Huge Upside

Wells Fargo analyst Matthew Akers upgraded Boeing Co BA to Overweight from Equal Weight and raised the price target to $272 (an upside of 20.5%) from $224.
Akers now sees a positive risk/reward balance with the stock lagging the S&P 500 Index by 30% since its March high.
The analyst believes Boeing should benefit from the China737 MAX re-certification, resumption of 787 deliveries, higher fuel costs driving more aircraft retirements, and easing international travel restrictions.
Each of these is a "matter of when rather than if," says the analyst. He sees limited share downside, saying Boeing has de-risked 2022 delivery expectations and is less susceptible to supply chain disruption given its large inventory of completed aircraft.
Also read, New Indian Carrier Akasa Air Makes Hefty Order For Boeing Airplanes.
Price Action: BA shares are trading higher by 1.73% at $229.7 during the premarket session on Wednesday.

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