Top Stock to Buy #3 – Boeing (BA)
Boeing (BA), the world’s largest manufacturer of commercial jets and second largest military weapons maker, is expected to see a 4% rise in sales this year and 9% in 2014, driven by its commercial airplane segment.
The consensus earnings estimate for 2013 is $6.71 per share and $7.46 in 2014. An average P/E of 19 renders a price target of $141.
Technically, the stock has been advancing in a powerful bull channel. But in October, it broke through the upper resistance line of the channel, driven by heavy volume.
The gap created on Oct. 23 at $123.80 to $126 may not close since it appears to be a breakaway gap. The technical target is in agreement with the fundamental target of $141.