Sterne Agee today suggests investors to buy Boeing on the dip with the price target of $164. The company cites the reason being the favorable FCF over the next couple of years. Despite a recent misfortune, Boeing has been able to keep a 10-12x peak FCF multiple in the past. So the 13x to 15x multiple for 2015 estimates seem reasonable. Moreover, investors will put in more money into mega-cap industry as it is getting closer to major aircraft investment cycle which is from 2004 to 2011. Boeing gain 2% after the news but still down 6.3% since the beginning of 2014.