Vertical Research Partners upgraded Boeing Co. (NYSE:BA) to Buy from Hold and set a price target of $270, citing easing supply chain issues and signs of the aerospace cycle entering a mid-phase.

The analysts said airline revenue passenger mile growth appeared to be stabilizing at around 5% and supply chain disruptions impacting original equipment manufacturers were showing signs of improvement. They noted that this shift supported a more balanced stance between aftermarket and OEM exposure.

As a result, the firm upgraded Boeing, describing it as one of the sector's most prominent OEM names, and highlighted its favorable positioning for the next phase of the aerospace cycle.