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: Boeing stock lands upgrade at Credit Suisse, but falls short of ‘buy’

Boeing Co.’s stronger aircraft sales have landed the stock an upgrade at Credit Suisse.

Analysts led by Scott Deuschle upped their rating on Boeing

stock to the equivalent of hold, from sell, saying that they see an “improved operational performance” taking place at the aerospace and defense company.

“Key here are stronger aircraft deliveries,” which reduces chances of lower estimate revisions, creating instead “upside opportunity,” the Credit Suisse analysts said.

See also: Airlines see strong recovery as global air traffic rises

Moreover, “recent strong order activity helps defend out-year estimates and improves overall macro resilience,” they said.

There’s still risk that Boeing underperforms thanks to supply-chain“challenges,” softening orders and the worsening of macroeconomic conditions, some of the reasons the analysts didn’t upgrade their rating on the stock to buy.

Boeing earlier this week reported sales that were up 40% year-over-year, and its order book also grew and earned praise from Wall Street.

Analysts at Morgan Stanley this week lowered their rating on Boeing to the equivalent of hold, also citing in part ongoing supply-chain difficulties.

Boeing shares are down 2% in the past 12 months, compared with losses of about 16% for the S&P 500 index.

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