Avoid Boeing; consider investing in Palantir and Dutch Bros

Investors are advised to keep away from Boeing, despite some recent positive news, according to Oppenheimer's technical analyst Ari Wald. He shared these thoughts during an appearance on CNBC's "Power Lunch." Boeing's shares rose 3% last Friday after the company secured a large fighter jet contract from the government, outpacing competitor Lockheed Martin. The stock finished the week up 10% following comments from CFO Brian West about reduced cash burn. Melius Research upgraded Boeing to a buy rating, noting a series of favorable developments for the company. However, Wald remains cautious about the stock's long-term performance. Wald points to a pattern of lower highs in Boeing's stock price since 2019 and suggests that any gains might not last. He emphasized that the market's overall strength may not support Boeing if market conditions change. He referenced similar behavior in 2022, where the stock rallied but was later affected by broader market trends. In contrast, Wald recommends investing in Palantir, a software stock that has shown strong momentum. Despite not reaching its all-time high, it has recently surged. Wald believes Palantir is in an uptrend and performs better than the overall market. Wald is also optimistic about Dutch Bros, the coffee chain. After a recent 7.7% increase in stock value, he expects further growth, especially following Morgan Stanley's favorable rating and price target. He believes that with the stock trading above its key average, there is potential for Dutch Bros to reach higher values in the near future.