Citi says Boeing is a buy as the new year approaches. Here's why

The stage is set for a big move higher for Boeing as the stars line up in the aircraft maker's favor, according to Citi. The bank initiated the aerospace and defense stock with a buy rating and a price target of $265. That target signals upside of 32% from Thursday's close. A broader theme behind Citi's initiation of Boeing was the bank's positive stance on the U.S. aerospace and defense sector. BA YTD mountain BA YTD chart "A & D is at the center of a number of megatrends — secular, multi-year growth drivers largely not dependent on the economy. When we model out many of these trends in the years to come, we believe the end game will be the creation of trillions of dollars of market cap across the group," analyst John Godyn wrote. When it comes to Boeing specifically, the analyst wrote th