NEW YORK (TheStreet) -- Boeing Co. (BA) shares may be helped by support from Delta Air Lines (DAL) CEO Richard Anderson who is expected to back the Export-Import Bank of the U.S. providing some support for sales of Boeing's biggest jets, softening his stance even as the agency's political critics step up a campaign to have it abolished, the Wall Street Journal reports.
Delta has been the staunchest of airline-industry critics of the Ex-Im Bank, arguing that the bank's support for sales of Boeing widebody jets gives rival carriers overseas an unfair advantage by reducing their finance costs, the Journal said.
Now Anderson plans to use a speech at the Aero Club in Washington, D.C. today to distance the company from the calls of some Republicans and small-government advocates for the bank to be wound down, arguing it has a vital role in preserving U.S. manufacturing jobs, the Journal added.
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 revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."