BOSTON ( TheStreet) -- U.S. stocks rallied yesterday after China said it would relax its yuan currency peg. The move will make U.S. goods cheaper overseas, benefiting American exporters. Here are 10 companies that will capitalize on a weaker dollar.
10. Boeing ( BA) is an aerospace and defense company. Quarter: First-quarter profit dropped 15% to $519 million, or 70 cents a share, as revenue declined 7.8%. The operating margin rose from 6.3% to 7.6%. Boeing has $10 billion of cash and $13 billion of debt, equaling a debt-to-equity ratio of 4.4 Stock: Boeing has advanced 43% during the past year, outperforming U.S. stock indices. Its PEG ratio, a measure of value relative to expected growth, of 0.4 signals a 60% discount to estimated fair value. The stock is also cheap based on cash flow. Consensus: Of analysts covering Boeing, 18, or 64%, advise purchasing its shares, seven recommend holding and three suggest selling them. Gleacher Securities ( BPSG) expects the stock to rise 45% to $100. Stifel Financial ( SF) predicts that it will hit $90.