Shares in Boeing were expected to get a lift this week after the aircraft manufacturer reports its full-year earnings on Wednesday.
Two weeks ago, Boeing shares hit a record high of $352.18 after strong production numbers appeared to ensure the company's status as the world's leading airplane manufacturer.
Price target raised
On Monday, a research note from Berenberg implied further gains for Boeing stock after the broker raised its price target to $395 from $282 and its earnings per share forecasts between 2018-22 by between 15-36%.
Berenberg, which reiterated its buy rating on the stock, said it expected better a operational performance during its outlook period, a rate of increase in the production of 787 Dreamliners, benefits from US tax law changes, a 25% dividend hike and further share buybacks.
"The upgrade cycle is far from over, even considering that current earnings per share (EPS) forecasts will treble by 2022," said Berenberg analyst Andrew Gollan.