Goldman makes bold upgrade of Boeing shares, saying it has enough cash and air travel will return

A pilot waves as a Boeing 777X airplane taxis during its first test flight from the company's plant in Everett, Washington, U.S. January 25, 2020.
Terray Sylvester | Reuters

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With Boeing tumbling 80% from its record high amid the coronavirus crisis, Goldman Sachs said "substantial fear" has been priced in and investors can bet on the U.S. planemaker to recover on the back of its strong balance sheet and a rebound in air travel demand.