Boeing shares may soar 56% from right here if the corporate’s three industrial plane packages keep projected ranges of profitability — although the shopping for alternative is excessive threat, in accordance with Citi. Analyst Charles Armitage upgraded shares of Boeing to purchase/excessive threat from impartial, saying in a Thursday report that the outlook for the corporate’s 737 Max, 777X and 787 plane packages must bitter considerably to justify the present inventory worth. The firm’s shares are down 34% this yr. “We believe Boeing offers significant value to investors as the market has become increasingly concerned about the outlook for its commercial aircraft programs,” learn the report. “While we acknowledge there are questions as to whether reasonable levels of profitability and market share will be achieved, we also feel that this potentially misses a valuable investment opportunity.” Should all three plane packages keep Citi’s projections for manufacturing and profitability, the analyst believes the truthful worth of Boeing needs to be $209 per share, representing roughly 56% upside from Wednesday’s closing worth. This can be Citi’s new goal worth, trimmed from $219 beforehand. However, there are dangers remaining for buyers. If two of the plane strains — the 737 Max and 777X — match Citi’s draw back case for manufacturing and profitability, analysts count on the truthful worth to be $116 per share, which is “marginally below” the present inventory worth. And, “if all three programs go badly, we see value at about $84/sh, ~30% below the current price.” “We are least sure of the prospects for the 737MAX and the 777X; in our view, both programs would need to go badly to justify the current share price, so we regard the risk/reward to be in investors’ favor,” Citi mentioned. Shares of Boeing dipped greater than 1% in Thursday premarket buying and selling. — CNBC’s Michael Bloom contributed to this report.