5 Best Drone Stocks To Buy Now

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In this article, we discuss 5 best drone stocks to buy now. If you want to see more of the top companies dealing in drones, click 10 Best Drone Stocks To Buy Now

5. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 50

The Boeing Company (NYSE:BA) was incorporated in 1916 and is based in Chicago, Illinois. The company manufactures and designs drones, commercial jetliners, military aircrafts, satellites, missile defense, and human space flight and launch systems.

On May 16, ​​Cowen analyst Cai von Rumohr reiterated an Outperform rating and a $230 price target on The Boeing Company (NYSE:BA) shares, since he sees an upside potential for 2024 CFPS of $20. He sees a 7-to-1 risk/reward for the stock and estimates only about 12% downside to $112, which is tied to liquidity concerns that are unlikely to materialize. He said projected short-term catalysts are 737 inventory burndown, 787 deliveries, and a significant FCF lift in the second half 2022.

According to the fourth quarter database of Insider Monkey, 50 hedge funds were bullish on The Boeing Company (NYSE:BA), with collective stakes worth $1.10 billion. In Q1 2022, Jim Simons’ Renaissance Technologies held a prominent position in the company, with 707,200 shares valued at $135.4 million. 

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