Boeing was upgraded at Bank of America, which heralded the use of the company’s planes as a bargaining chip in the Trump Administration trade deals. The firm upgraded the stock to buy from neutral and raised its price target to $260 from $185. “Boeing (BA) aircraft have emerged as the favored trade tool for the Trump Administration in recent trade deals,” wrote analyst Ronald Epstein in a Monday note. “We view those recent deals struck in the UK (32 aircraft orders), Qatar (210 aircraft orders), UAE (28 aircraft orders), and China (removing the ban on BA aircraft), as setting a precedent for future global trade negotiations, to BA’s benefit.” The new price target represents a 25% gain from Friday’s close. Boeing shares added about 1% in premarket trading following the call.
