UPDATE: Barclays Raises Price Target On The Boeing Company

In a note released Monday morning, Barclays analyst Carter Copeland raised the price target on The Boeing Company (NYSE: BA) from $147 to $155 and maintained an Overweight rating.

Copeland's upgrade comes on the belief that Boeing's margin performance was "strong" in the second quarter, and that the company may see "faster-than-expected" margin expansion for the 787, as well as benefits from the PFS and VoQ cost initiatives.

Copeland said the added upside from these and other items could amount to a ~$2 increase in his 2018 EPS estimate, bringing it past the $14 mark.

Copeland wrote, "It's clear that sentiment for BA shares remains weak as investors worry about the health of the cycle - a concern we don't share with traffic growth humming along at ~6 percent, replacement dynamics still very much intact, and airline profits at record levels."