New York, April 26 (FinanceEnquiry.com) – Analyst Richard Tortoriello at S&P Capital IQ reiterates his BUY rating on the shares of Boeing (NYSE: BA). The 12-month target price has been raised from $86 to $88.
In a research note published this morning, the analyst mentions that Boeing’s Q1 EPS of $1.22 exceeds the estimate of $0.86 and the Capital IQ consensus of $0.96. The company’s results include a $0.11 1X profit. BA reported more-than-expected sales growth of 30% and operating margins of 8.1%, that reflects good execution, the analyst adds. Moreover, total backlog rose 6% from the 1Q of last year.
The 2012 EPS estimate has been raised $0.20 to $4.55 and 2013′s is set at $6.00. The cash flow improved in Q1 and is expected to increase in 2012 and 2013 on production gains, the analyst says further.
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