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Last week, after the engine problems with a Southwest Airlines Inc. jetliner put The Boeing Co. (NYSE: BA) back in the bearish crosshairs, we once again told folks to use the sell-off to "accumulate" shares of the aerospace giant.
It's a mantra we've reiterated over and over.
And today, we again see why.
Boeing has released first-quarter results that blew away expectations. More importantly, it boosted "forward guidance" for cash flow (CF) and profits, as the jetliner and defense heavyweight climbs toward another record year. The shares have surged more than 3% today and are now trading at roughly $340 – 448% above our initial "Buy" call at about $62 back in September 2011.
I think we're barely getting started…
About the Author
Before he moved into the investment-research business in 2005, William (Bill) Patalon III spent 22 years as an award-winning financial reporter, columnist, and editor. Today he is the Executive Editor and Senior Research Analyst for Money Morning. With his latest project, Private Briefing, Bill takes you "behind the scenes" of his established investment news website for a closer look at the action. Members get all the expert analysis and exclusive scoops he can't publish... and some of the most valuable picks that turn up in Bill's closed-door sessions with editors and experts.