Boeing (BA) Gets Buy Rating from Citi, Completes Spirit AeroSystems Acquisition

The Boeing Company (NYSE:BA) is one of the 14 Best Large Cap Stocks to Invest In Now. On December 12, Citi initiated coverage of The Boeing Company (NYSE:BA), assigning the stock a Buy rating and setting the price target at $265.

Citi started coverage on 24 stocks in the aerospace and defense sector. The research firm pointed out that the sector is seeing “a number of megatrends” across commercial aerospace, defense, space, and shipbuilding. According to Citi, these trends could lead to at least one company having a market cap of one trillion dollars in the coming years. The research firm thinks that The Boeing Company (NYSE:BA) offers an “unusually attractive mega-cap turnaround” story. For the aerospace and defense sector, Citi’s analyst expects to see trends improve in the fourth quarter, with momentum carrying into the first quarter.

In other news, on December 8, The Boeing Company (NYSE:BA) reported that it has concluded its acquisition of Spirit AeroSystems. This transaction includes fuselages for the 737 program and key structures for the 767, 777, and 787 Dreamliner. Additionally, the deal includes fuselages for the P-8 and KC-46 that are procured commercially.

According to the report, this deal brings The Boeing Company’s (NYSE:BA) biggest spare parts supplier in-house. It helps the company grow its services for global maintenance, repair, and overhaul services. It also adds Spirit’s aftermarket businesses to expand The Boeing Company’s (NYSE:BA) rotable, lease, and exchange portfolio.

The Boeing Company (NYSE:BA) is a leading global aerospace company that manufactures and services commercial airplanes, defense products, and space systems.

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Disclosure: None. This article is originally published at Insider Monkey.