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Cowen upgrades Boeing on the 'fast improving' air traffic amid the economic reopening

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A Boeing 737 MAX 7 aircraft lands during an evaluation flight at Boeing Field in Seattle, Washington, September 30, 2020.
Lindsey Wasson | Reuters

Investors should look through the near-term roadblocks for Boeing and focus on the rebound opportunities in the years ahead, according to investment firm Cowen.

Boeing's business has been hurt by the pandemic and the regulatory halts for the 737 Max and 787 Dreamliner over safety concerns. The stock is still trading well below where it was in February 2020.

Cowen analyst Cai von Rumohr upgraded the stock to outperform from market perform, saying in a note to clients on Tuesday that the recovery in travel demand creates upside for the aerospace giant.

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