Sterne Agee Reiterates Buy on Boeing Following South Korean Fighter Program Reports

In a report published Monday, Sterne Agee analyst Peter Arment reiterated a Buy rating and $120.00 price target on The Boeing Company BA. In the report, Sterne Agee noted, “Based on reports from the leading South Korean newspaper this morning, the BA F-15 Silent Eagle (SE) is the only remaining bidder for South Korea's $7 billion fighter program. The final bids were delivered on Friday between the F-15SE and the Eurofighter, with the latter eliminated over the weekend. Official award dates is mid-Sept, with deliveries commencing in 2017. South Korean is the first country to pick the F-15SE variant, which now keeps a mature production line open beyond 2020.” The Boeing Company closed on Friday at $103.47.