Aerospace and defense stocks took off in 2022, outperforming the S & P 500 as a selloff trend pummeled growth and technology names. Wall Street expects those tailwinds to continue in the new year. Through 2022, the aerospace and defense sub-industry within the S & P 500 rose 15.5%, while the broader index tumbled 19.4%. These stocks benefited from a rotation into defensive sectors offering stability in an uncertain economy.
During the quarter, the aircraft maker announced a new contract with United Airlines to purchase at least 100 Dreamliners . Wall Street expects Boeing's tailwinds to continue, with more than 6 out of 10 analysts rating the stock a buy. The consensus price target implies a 4.3% upside for the stock from Friday's close.
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