Dust Clears for Boeing After Upgrade

The stock is coming off its fifth-straight weekly loss today

Digital Content Manager
Mar 23, 2020 at 10:51 AM
facebook X logo linkedin

Perpetually struggling Boeing Co (NYSE:BA) is getting some respite this morning, up 4.3% at $99.12 after Goldman Sachs upgraded the aerospace specialist to "buy" from "neutral." The analyst said traders can get BA shares for a steal right now, seeing as the stock is down 80% from its 2019 highs, and predicts a strong resurgence in air travel once issues caused by COVID-19 are resolved. Goldman also said it was hopeful that government stimulus would be made available and added that Boeing has strong liquidity to cover the deeply negative free cash flow it has suffered this year. 

While Boeing hit a seven-year low of $89 early last week, it appears that this level is now behaving as a floor for the equity. BA still has a ways to go if it wants to stage a real rebound, however. For the year, the stock is down 70% and just strung together five consecutive weeks in the red. 

Another bull note could help put more wind at Boeing's back, and right now there is plenty of room for upgrades among the brokerage bunch. Just three in coverage consider BA a "strong buy," compared to 11 "hold" ratings, and one "sell." The consensus 12-month target price of $203.94, on the other hand is more than double current levels. 

Drilling down, BA's Schaeffer's put/call open interest ratio (SOIR) of 0.51 sits beneath all other readings from the past year This suggests that short-term option players haven't been more call-heavy during the past 12 months.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI