Citi analysis suggests 50% potential upside in Boeing shares

Citi reiterates a Buy rating on Boeing (BA) with a $210 price target saying the market is undervaluing the company’s long-term growth potential at current share levels. The stock is pricing in less than 1% free cash flow growth in perpetuity, the analyst tells investors in a research note. Citi’s analysis suggests that a growth rate of 3% is achievable, given the anticipated growth in both the commercial aerospace and defense end markets. The 3% growth rate implies roughly 50% potential upside to Boeing’s current share price, contends the firm.