NEW YORK (TheStreet) -- Boeing Co. (BA) shares were up 1.0% to $125.75 in trading Monday.
Boeing is competing with French aircraft manufacturer Airbus Group (EADSF) for a $1.31 billion contract to supply South Korea with four in-flight refueling aircraft.
Boeing is expected to offer a model based on its 767 plane design, while Airbus is expected to offer a model based on its A330 plane.
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South Korea will accept proposals until June 30 and expects to make a decision by year's end.
South Korea is attempting to bolster its air defense amid rising tensions in the region. The announcement of this bidding process comes on the heels of the news that the East Asian country placed a $6.79 billion order for 40 Lockheed Martin (LMT) made F-35 fighter jets last week.
TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."