- A "natural push back" to a Buy recommendation on Boeing (BA +0.7%) "is that the stock has 'run' and it now reflects all the good news that will happen over the next several years," Deutsche's Myles Walton says.
- However, Walton thinks BA is now a story about free cash flow rather than EPS and with FCF/ share set to hit $13, $17, and $20 in FY15, FY17, and FY20 respectively, a 10x FCF multiple "argues for solid upside" from current levels.
- Buy rating reiterated, price target hiked to $130 from $125.
- The note also strikes a positive tone on Airbus (EADSF.PK +0.6%).
- More on BA's FCF generation here
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Boeing : Jeff Johnson to Lead Boeing Military Aircraft Business Development; Successor to be named in coming weeksat 4-traders.com (Mon, 7:11AM)
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