Boeing on the way to $200, Sterne Agee says

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA +2.9%) reaches new all-time highs as Sterne Agee analysts raise their stock target price to $196 from $164, believing that the company’s healthy visibility and robust backlog will continue to make the stock "a must own in 2015."

Sterne Agee estimates Boeing will generate $23B in free cash flow during the 2015-17 period, with ~$16B available for buybacks after dividends, which would enable a 15% reduction in the shares outstanding; it forecasts Boeing will generate free cash flow of $6.3B in 2015, $8B in 2016 and $8.7B in 2017, resulting in a 15% compound average growth rate.

The firm's $196 price target is the highest issued by any analyst.