Argus keeps a Buy rating and $240 price target on Boeing while noting that the stock offers a ‘turnaround opportunity’ after falling nearly 20% over the past few weeks as a result of new problems with its 737 MAX airplane. Boeing remains among the largest aerospace and defense companies in its coverage universe and likely has a superior long-term prospects due to its leading presence in the growing commercial aerospace industry and its significant backlog, the firm tells investors in a research note.
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