Boeing (BA) was upgraded today by wealth-management firm Bernstein, and renowned investor Stephanie Link remains bullish on BA after the company reported its first-quarter financial results recently.

Link,  the Chief Investment Strategist of Hightower Advisors, also noted that she has been buying Meta (META) stock over the last month.

Link was speaking on CNBC today.

Bernstein Upgraded BA Stock to Outperform

Bernstein this morning raised its rating on BA to Outperform from Market Perform and increased its price target on the shares to $218 from $181.

Citing positive "progress" by the company, Bernstein believes that its growth outlook has significantly improved. The wealth-management firm added that the company's commercial business "should be on a much firmer path than in 2023.”

Link's Bullish Comments on Boeing

Noting that BA has been one of her "favorite stocks this year," Link stated that the stock is "so depressed" while the company is "turning the corner." She also pointed out that the company's Q1 free cash flow loss had been significantly lower than analysts' average estimate and is expected to be positive in the second half of this year.

Finally, Boeing's operating margin increased 2.9 percentage points year-over-year last quarter, the longtime investor said.

Link Is Upbeat on META Stock

The investor has been adding to her position in Meta over the past month, she said. "I took advantage of the 30% drop in the stock to buy more of it," Link explained.

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Disclosure: None. This article is originally published at Insider Monkey.