Breaking News
Get 40% Off 0
🔎 See NVDA full ProTips for an instant risks or rewards Claim 40% OFF

Analysts See Boeing as a Buying Opportunity in Current Conditions

By The Tokenist (Timothy Fries )Stock MarketsNov 28, 2023 19:49
ng.investing.com/analysis/analysts-see-boeing-as-a-buying-opportunity-in-current-conditions-187265
Analysts See Boeing as a Buying Opportunity in Current Conditions
By The Tokenist (Timothy Fries )   |  Nov 28, 2023 19:49
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
BA
+0.44%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Boeing Co (NYSE:BA) opened 0.8% at the market open on Tuesday after RBC analysts hiked the stock's price target to $275 from $200.

Shares of Boeing rose 0.8% at the opening bell on Tuesday after RBC Capital analysts raised their price target on the stock. Despite years-long challenges, Wall Street is beginning to see BA as a buying opportunity, citing stabilizing fundamentals and better 2024 prospects.

RBC, Deutsche Bank, Goldman Sachs Bullish on Boeing

Boeing’s shares saw an opening surge on Tuesday following a positive endorsement from analysts, who issued yet another bullish call on the stock.

The planemaker climbed higher after RBC Capital hiked its rating to Outperform from Sector Perform and raised the 12-month price target for the stock to $275 from $200. The new price objective is 25% higher than Boeing’s closing price on Monday.

The upgrade comes from the financial services firm’s optimistic stance regarding Boeing’s 2024 prospects. 2023, another year of supply chain constraints is ending, and the jet manufacturer is set for production ramps on the business’s commercial and defense sides. RBC analysts believe these changing circumstances would drive demand in both categories.

“After another year of supply chain disruptions and lowered expectations, we believe the set-up into 2024 is favorable. We believe buy-side expectations for 2024-2025 [free cash flow reflect conservatism, and as execution on the MAX and 787 continue to gradually improve, we believe the potential for positive revisions is growing.”

– said RBC analysts led by Ken Herbert.

Last week, Boeing received a stock rating upgrade from Deutsche Bank from Neutral to Buy. Further, Goldman Sachs added BA to its conviction buy list at the beginning of the month.

Boeing Recovers Significant Stock Losses After Declining on Major Q3 Loss

The upgrades fueled the stock’s gains of over 17% from Nov. 1 through Monday, helping it recover significant ground after recent lows.

The company’s share price plummeted below $180 in late October after the planemaker posted another significant quarterly loss and trimmed its full-year forecast for deliveries to address a manufacturing issue on the aircraft.

Notably, Boeing reported a Q3 loss of $.16 billion, wider than analysts expected on a per-share basis. The operating loss in the aviation giant’s defense business was $924 million, substantially higher than Wall Street’s estimates of $400 million.

After a disappointing report, investors’ moods were lifted when reports revealed that China may end its freeze on purchases of Boeing’s best-selling 737 MAX aircraft after more than four years. Simultaneously, the company is holding talks with Emirates over a potential major 777 jet order.

***

This article was originally published on The Tokenist. Check out The Tokenist’s free newsletter, Five Minute Finance, for weekly analysis of the biggest trends in finance and technology.

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

Analysts See Boeing as a Buying Opportunity in Current Conditions
 

Related Articles

Analysts See Boeing as a Buying Opportunity in Current Conditions

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email