Boeing (BA) - Get Report stock is down about 25 basis points Thursday and is now down about 3.1% over the past two trading sessions after the airplane manufacturer reported earnings on Wednesday. 

It's got many investors wondering, "should I buy Boeing?" Boeing has been the hottest stock in the Dow Jones Industrial Average, up 65.6% so far on the year. Despite the strong moves by Apple (AAPL) - Get Report , Caterpillar (CAT) - Get Report and McDonald's (MCD) - Get Report , Boeing trounces them all. 

So the recent move lower may have surprised some investors, given that Boeing beat on earnings per share and revenue expectations, grew its backlog to $474 billion and boosted its earnings outlook range slightly higher. Ultimately, these were good results, but Boeing needed great results to fly higher.

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Still, the analysts aren't necessarily hitting the eject button on Boeing. Cowen's Cai von Rumohr is sticking with Boeing as his top stock pick. Boeing is in an "execution sweet spot" and that should fuel earnings growth into 2020. Boeing stock, despite its massive move this year, remains cheap compared to its cash flow. As a result, the analyst maintains his outperform rating and $315 price target, implying more than 22% upside.

JPMorgan analyst Seth Seifman also remains optimistic. The recent results only reinforce the company's outlook, although unlike last quarter, they did not dramatically improve the outlook. Due to the strength of the commercial aerospace business, Boeing stock remains attractive. Cash flows are more predictable and its free-cash flow yield remains "reasonable." Seifman maintains his overweight rating and $300 price target, implying roughly 16.7% upside.

While these analysts may be on board with Boeing's result, others have found them to be relatively dull. It still remains to be seen whether investors will take a pass on Boeing because of these boring results or use it as a chance to gobble up more on the decline.

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This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.