Boeing Co.’s (NYSE: BA) share price rose by more than 2% last week, more than enough to extend the stock’s run as the best performer among the 30 stocks that make up the Dow Jones Industrial Average (DJIA). Shares added $5.29 last week to raise the year-to-date gain by nearly four percentage points to 68.1%.
Of the three other Dow stocks closest to Boeing’s yearly gain, Apple Inc. (NASDAQ: AAPL) added nearly 6% after a stellar quarterly earnings report to pushed its year-to-date gain to nearly 49%. Caterpillar Inc. (NYSE: CAT) dipped by about 0.9% to a gain of 47.33%, and Visa Inc. (NYSE: V) tacked on 1.5% to bring its annual gain to nearly 43%.
Boeing’s share price dipped to a weekly low on Wednesday, the same day that the U.S. Senate Banking Committee held a hearing on President Trump’s nominee to head the U.S. Export Import Bank. A previously staunch opponent of the bank, Scott Garrett, assured senators that he has had a change of heart and he vowed to keep the bank “fully open and fully operational. Period.” Investors may still have doubts.
[nativounit]
More than anything that Boeing did last week, its shares probably reacted largely to news that arch-rival Airbus is being investigated in the United States, as well as in Britain and France, on bribery charges. Airbus is also seeking a replacement for the company’s long-time sales chief, John Leahy, who is retiring. Leahy did say last week that he will stay on until a successor is named.
Boeing stock closed at $261.75 on Friday, down about 0.3% on the day, in a 52-week trading range of $138.80 to $267.21. The 12-month consensus price target is $286.00, nearly $1 a share higher than last week’s target. The low price target is $203 and the high is $350.
[recirclink id=423679]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks