After a Big Earnings Beat, Boeing Wins a Big Buy Rating: What You Need to Know
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Let's give credit everywhere that it's due. JPMorgan was the first analyst to recommend Boeing (NYSE: BA) stock this month -- but Merrill Lynch is right to do so, too.
Two weeks ago, as you may recall, JPMorgan reversed course on Boeing stock. A Boeing skeptic since way back in February 2016, JPMorgan finally found the cash production story at Boeing just too darn compelling. With earnings on the horizon, JPMorgan bit the $200-plus bullet and advised investors to buy ahead of earnings.
Source: Fool.com