Boeing rises after BofA Global Research upgrades rating

Boeing's BA.N shares rise 1.6% premarket to $210.67 after BofA Global Research upgrades stock rating to 'buy' from 'neutral'

Brokerage raises price objective to Wall Street high of $260, says BA has become the "favored trade tool" for the U.S. administration in recent trade deals

Citing recent deals with the UK, Qatar, UAE and China's removal of ban on Boeing, BofA says co's favored trade tool status creates a buying opportunity with a path toward stable production and profits

Brokerage adds co will need to invest heavily in a new aircraft program to regain market share losses to rival Airbus AIR.PA

20 out of 29 analysts rate stock as "buy" or higher, eight "hold" and one "sell"; Median PT is $215

As of last close, BA was up 17.1% YTD, compared with AIR's 4.9% rise