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Pro Analysis

Buy Boeing on half-trillion-dollar backlog: Morgan Stanley

Boeing aircraft at Boeing Field in Seattle
Jason Redmond | Reuters
Boeing aircraft at Boeing Field in Seattle

Investors should buy Boeing due to its impressive backlog and future profit prospects, according to Morgan Stanley, which initiated coverage on the aerospace company at overweight.

"We believe Boeing has an impressive narrative between its margin expansion opportunity of ~50%, almost half a trillion in backlog, and double-digit annual free cash flow / capital returns that are best-in-class," Morgan Stanley's Rajeev Lalwani wrote in a note to clients Wednesday.