Brenda Vingiello: Boeing is a buy at current levels

by
0 comment

Boeing Co (NYSE: BA) has had a rough couple of years, but it’s moving to resolve the issues, and that makes up for a strong enough reason to buy BA in 2022, says Sand Hill’s Brenda Vingiello.

Highlights from Vingiello’s interview on CNBC’s ‘Halftime Report’

Vingiello expects Boeing to fix the defects in its 787 Dreamliner this year and have its 737 Max reinstated in China, both of which, she said, could serve as a catalyst for the stock. On CNBC’s “Halftime Report”, she added:

Boeing has had issues, but I think in this market, if you’re looking to buy something that hasn’t worked and is likely to do better in 2022 and be a better performing stock, I think you should look towards companies with exposure to travel resumption. Boeing falls into that category.

According to Vingiello, domestic air travel has started to pick up, but international is yet to return. The pent-up demand for business and leisure travel, she said, will continue to fuel the stock this year, especially as COVID restrictions continue to ease.

Jim Lebenthal also expects 2022 to be a great year for Boeing

Among other notable Boeing bulls is Cerity Partners’ Jim Lebenthal, who also has the stock as one of his top three picks for 2022. Earlier this week, he said in an interview with CNBC:

The only thing that can hold this stock back is either the global economy craters, which I don’t see, or Boeing can’t figure out its engineering issues on the 787. If I thought that was a real probability, I wouldn’t be in the stock. I think this should be a great year for them.

Boeing is currently exchanging hands at $211 a share versus Wells Fargo’s price target of $272 that represents an over 25% upside from here.

The post Brenda Vingiello: Boeing is a buy at current levels appeared first on Invezz.

Related Posts