With a focus on giant things that fly, Boeing is a leading maker of large commercial jets and a top defense contractor.
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BA's PEG is great, backlog of orders is great, earnings growth is spectacular. While airlines are increasingly in the news as unviable (and this hurts airplane builders), the real problems remain fuel and fierce competition. Boeing's great business advantage is a new generation of jets that are 20% more fuel efficient (and I like that they can keep the air pressure inside the jet at a more comfortable level, making long trips much more bearable). At the same time, time is running out on whole fleets of jets that need to be replaced.As the weakest airlines shake out, competition is reduced, and as oil prices go down (as the strengthening dollar makes oil seem cheaper), and as the the oil producers lower their margins to nip cost-effective alternatives in the bud), BA will look like an increasingly great idea, and investors will pile on.
The only problem you have to deliver those planes and McNerny doesn't seem to be able to get the new 787 to the customer. Boeing needs to stop taking plays from the aIRBUS delivery manual.