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The Boeing Company (NYSE:BA) is among the 10 Best Large Cap Defense Stocks to Buy According to Hedge Funds. On April 27, the company announced that it had completed the first test flight of the aerial refueling drone, MQ-25A Stingray, with the U.S. Navy.
The two-hour flight demonstrated the aircraft’s controls and is seen as an important milestone, as it marks the first time a Navy MQ-25A Stingray has flown, bringing it closer to operational deployment on aircraft carriers.
In other news, The Boeing Company (NYSE:BA) continues to remain on analysts’ radar and currently sports a Strong Buy rating with an upside potential of 22% as of the close on May 5.
Recent updates include Tigress Financial’s on April 29, which lifted its price target on the stock to $295 from $290 and reiterated a Buy rating. The firm told investors that the company’s robust order backlog, rising demand for air travel, and expansion in defense, space, and cybersecurity present a strong opportunity for share price appreciation.
Earlier on April 23, Morgan Stanley also raised its price target on the aerospace company’s shares by $5 dollars to $250, citing ‘progress’ on commercial aircraft production rates and free cash flow in the recent quarter, said a report on TipRanks. The firm maintained its Equal-Weight rating.
The Boeing Company (NYSE:BA) is a leading aerospace company that manufactures commercial airplanes, space systems, and defense equipment for customers in more than 150 countries.
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