The Boeing (BA) - Get Boeing Company Report bulls who have flown away from the name have good reason to return.

After a stellar 2017, shares of the airplane maker have dropped 1.2% over the last six months on fears that a U.S. trade war with China would weigh on the company's results. Boeing didn't help its short-term investment case when it reported second quarter results in July. 

Boeing cut its defense operating margins and its full-year earnings guidance didn't meet analysts' expectations, even though the company reported strong second-quarter results and raised revenue guidance.

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Even still, now may be an opportune time for longer term investors to consider jumping into Boeing.

The Catalysts

According to Credit Suisse analyst Robert Spigarn, there are several catalysts ahead for Boeing that could lift the stock to $455 a share. Shares currently trade at $338.

Says Spigarn:

"We see scope for further multiple expansion as cycle concerns diminish with high traffic, and cyclicality abates with a growing service business. We also expect additional margin upside from management's focused strategy on cost control and service / lifecycle opportunities. In regard to our updated production rate forecasts, we keep 787 at 12/month, and keep 777 at 3.5/month, and an increase in 737, as we now model the rate rising to 57/month in 2019 (based on Boeing's stated intention), and we feel comfortable that the current backlog can support this rate through at least 2022. Separately, upcoming catalysts include the September 18-19 Investor Event in Charleston, South Carolina, as well as Q3 earnings in October, where Boeing will formally roll out financials for its new Boeing Global Services reporting segment."

What Spigarn fails to mention is a potential headline-driven boost to Boeing from the start of testing of Mars rockets.