Boeing (NYSE:BA) Price Target Raised to $103.00 at Wells Fargo & Company

Boeing (NYSE:BA) had its target price raised by Wells Fargo & Company from $85.00 to $103.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 42.06% from the company’s current price.

A number of other brokerages have also recently commented on BA. UBS Group reduced their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Boeing in a report on Wednesday, October 30th. Robert W. Baird lowered their price target on Boeing from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein lowered shares of Boeing from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $195.00 to $169.00 in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Boeing from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.05.

Boeing Stock Performance

Boeing stock opened at $177.79 on Wednesday. The stock has a market capitalization of $109.91 billion, a price-to-earnings ratio of -13.78 and a beta of 1.52. Boeing has a 52-week low of $137.03 and a 52-week high of $214.63. The stock’s 50 day moving average price is $167.68 and its two-hundred day moving average price is $164.19.

Boeing (NYSE:BA) last issued its earnings results on Tuesday, January 28th. The aircraft producer reported ($5.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($4.30). During the same period last year, the company earned ($0.47) EPS. On average, equities research analysts forecast that Boeing will post -16.39 EPS for the current year.

Institutional Investors Weigh In On Boeing

Several large investors have recently added to or reduced their stakes in BA. Sugar Maple Asset Management LLC purchased a new stake in shares of Boeing during the fourth quarter worth $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Boeing during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in Boeing during the 4th quarter worth about $28,000. Cedar Wealth Management LLC bought a new position in Boeing in the 3rd quarter worth about $30,000. Finally, Heck Capital Advisors LLC purchased a new position in Boeing during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.