Stocks
Boeing Stock Rockets on Rare Two-Level Upgrade
Boeing stock surged by approximately 5.2% on Monday after BNP Paribas upgraded its rating from negative to positive.
The rare two-level upgrade was led by analyst Matthew Akers, who cited increasing confidence in Boeing's recovery under CEO Kelly Ortberg.
The company's second-quarter results showed $631 million in free cash flow, exceeding expectations of $388 million in cash consumption.
Boeing also reported higher revenue and aircraft deliveries than anticipated, although it still recorded a net loss.