Boeing shares look cheap with years of work ahead: analyst
By Christopher Hinton Last update: 9:18 a.m. EDT June 26, 2008Comments: 3 NEW YORK (MarketWatch) -- Boeing Co. (BA:Boeing Co. News, chart, profile, more Last: 69.79+0.15+0.22%
9:49am 06/26/2008
Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: BA 69.79, +0.15, +0.2%) shares are now looking cheap ahead of anticipated profit growth into 2012, said Bernstein Research in an investor note Thursday. The Chicago-based aircraft manufacturer has fallen out of favor with many investors on concerns its customers might cancel new plane orders because of a weaker economy. But even if its backlog were slashed by 30%, the company would still have years of work ahead of it, the investment firm said. "Demand for new aircraft remains tight," Bernstein said. "If we see economic weakness in 2011-12, that would be a real point of concern because large quantities of new airplanes would have already been placed in the market." Bernstein reaffirmed its outperform rating on Boeing shares with a $92 price target. Shares on Wednesday closed at $69.64, down 6.9%.
a thought about GM -- sorry I just don't believe GM will ever go bankrupt -- GS did this with ETFC they downgraded and downgrade and then when the stock was beaten down they scooped up a ton of etfc at 2 and then it doubled to 4.
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