In a recent report, S&P Capital IQ analyst Richard Tortoriello said "we expect the production ramp of the 787 to act as a catalyst" for the share price. Additionally, he said, "we view valuations, which are below historical averages, as attractive given our view of rising commercial aircraft production over the next three years."
Tortoriello estimates Boeing sales will increase 19% this year, driven by a 35% increase in the commercial aviation segment, driven by emerging economies in Asia and the Middle East as well as U.S. airlines' desire to replace aging aircraft.
In 2013, Tortoriello is expecting Boeing's revenue to increase 9% driven by 13% growth in the commercial aviation segment. He has a buy rating and an $88 price target, based on an enterprise value-to-EBITDA multiple of 8X his 2012 EBITDA estimate. Boeing's 20-year-historical average is 11.5X EBIDTA.