Baird proposed a target price of $306 per share, saying it is an opportunity to buy at a low price for Boeing, the worlds second-largest civil aircraft maker.
According to Baird, Boeing is expected to turn to black for the first time in three years thanks to a strong recovery in global aviation demand. In particular, as delivery of the B737MAX aircraft to China is expected to resume, Boeings profits are expected to improve significantly.
Baird said that now is a buying opportunity for Boeing stock, which has been hit hard by the coronavirus, and has fallen by 60% from its 2019 high.
On Wall Street, the civil aviation sector, which contributes to Boeings sales and profitability, is showing signs of recovery after bottoming out in 2020, the first year of the coronavirus.