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Boeing shares gain on upgrade, Wall Street rally

CHICAGO, May 10 (Reuters) - Shares of Boeing Co gained more than 7 percent on Monday on an upgrade by Goldman Sachs as the Dow Jones industrial average soared on news of a $1 trillion emergency rescue package to avert a sovereign debt crisis in Europe. Boeing, a Dow component, was up 7.1 percent at $71.46 on the New York Stock Exchange. Goldman Sachs raised Boeing to "buy" from "neutral" and added the stock to its "Americas Conviction List." "We believe the key to what we missed, and why the stock can continue to outperform, is its breadth of leverage to positive global themes in the market today," the firm wrote to clients. Boeing is poised to take advantage of a rebound in the global airline sector that could spur new commercial plane orders. The Arca airline index was up 6.2 percent, the most since Feb. 9 when it was 7.7 pct. (Reporting by Kyle Peterson; editing by Gunna Dickson) (kyle.peterson@thomsonreuters.com ; +1 312 408 8581; Reuters Messaging: kyle.peterson.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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