Boeing (BA) Stock Up, Defense CEO: Looking for M&A
NEW YORK (TheStreet) -- Shares of Boeing (BA) - Get Report are rising 1.66% to $132.25 today after the company's CEO of defense, space and security Leanne Caret said the company's defense division is on the lookout for smaller "bolt-on" acquisitions.
The company is focused on the services sector.
The Seattle-based aircraft producer is looking for new strategies ahead of the eventual retirement of its F/A-18 and F-15 fighter planes, its largest source of defense sales, in the upcoming years.
Caret said she hopes to make the company the sector leader in commercial derivatives, rotor craft, autonomous vehicles, satellites, services and human space flight. Boeing will remain in the fighter-jet business as well, Bloomberg reports.
Boeing's new priorities stem from global uncertainty and political turmoil alongside the U.S. government's tightening spending.
Caret took control of the defense unit four months ago.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and good cash flow from operations. TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that TheStreet Ratings evaluated.
You can view the full analysis from the report here: BA
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.