Boeing stock jumps on Goldman upgrade

Posted May 10, 2010 at 12:28 p.m.

Dow Jones Newswires | Shares of Boeing Co.  were up 6 percent,
to $70.72, in afternoon trading on the New York Stock Exchange after
Goldman Sachs raised its outlook to buy from neutral. The investment
firm also upped the plane maker’s price target to $90 from $82.

“Our thesis had been that the suppliers would outperform Boeing,” the
broker said. “What we have missed with Boeing, and why we think it will
continue to outperform, is that it spans nearly every positive global
theme that is driving outperformance in stocks today: BRICs exposure,
credit normalization, a product story, the consumer recovery, favorable
industry structure, and favorable company-specific dynamics,” the broker
said.

 

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