Bernstein raises its price target on this stock with a 'history of momentum'

CNBC

20-05-2025

Bernstein is doubling down on its bullish outlook on Boeing . Analyst Douglas Harned maintained his outperform rating on Boeing shares and assigned a fresh price target of $249, up from $218. His new target suggests roughly 21% upside for the stock, which is up 16% this year. Harned sees a strong growth runway for Boeing and said its defense business could return to being a powerful cash generator. He also highlighted recent developments such as Boeing's restart of deliveries to China, its deal with Qatar Airways announced last week to provide up to 210 widebody jets and easing tariff concerns. "Positive events support the stock's upward momentum," the analyst wrote in a Monday note to clients. "Last week, we saw large new widebody orders, a restart of deliveries to China, and support for defense programs, raising our confidence in Boeing's growth path. There is still more upside potential." "None of this is without risk, given Boeing's many missteps over the last decade. But, as positive elements appear to line up, we believe there is more risk in not owning a stock with a history of momentum," Harned added. To be sure, the analyst still has concerns about seemingly light May 737 deliveries so far and timing for certification on Boeing's 737 Max 7 and Max 10 aircrafts. Harned's rating comes nearly a month after he upgraded Boeing to outperform from market perform. The analyst had cited Boeing's progress on 737 Max and 787 production ramps, improvement in defense performance, and strong cash position that outweighed concerns of tariff impacts as his reasoning for the upgrade. Analysts polled by LSEG have an average price target on Boeing shares that indicate just 1% potential upside. Twenty of the 29 covering the stock have a strong buy or buy rating.