Boeing shares rise as UBS says it has 'further upside' By

UBS analysts see further upside in Boeing's (NYSE:) valuation,icmarkets official website raising its price target for the stock to $315 from $275 per share in a note Friday, reiterating a Buy rating.

Analysts told investors that following the 23% rise in Boeing's shares over the past month, there is "further re-rate potential."

"Strong November deliveries indicate supply chain improvement on the MAX, and we believe the market increasingly focus on record new aircraft demand and backlogs," they stated.

"At $256, shares trade at 15X Boeing's $10bn free cash flow guidance, matching the long-term average - but at a 15% discount to the historical relative (given the higher S&P500 multiple)," the analysts added.

Furthermore, the investment bank also sees upside to the $10 billion with "multiple years of growth beyond." Absent further significant supply chain setbacks, UBS expects the stock to "increasingly trade on normalized free cash flow."

Boeing shares have added to their recent run higher on Friday, climbing more than 1% to a high of $260.73 in early trading.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!