Boeing's August Performance Triggers Analyst To Lower Estimates, But Long-Term Confidence Persists
Portfolio Pulse from Anusuya Lahiri
Susquehanna analyst Charles Minervino reiterated Boeing Co (NYSE:BA) with a Positive and a $270 price target. However, he lowered his estimates due to Boeing's sequentially lower deliveries and gross orders for August, and recent commentary from management regarding the 737 rework. Despite these near-term headwinds, the analyst remains confident in Boeing's ability to execute effectively.
September 13, 2023 | 5:01 pm
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Boeing's lower deliveries and gross orders for August, along with issues related to the 737 rework, have led to lowered estimates by Susquehanna analyst. However, the analyst maintains a positive long-term outlook for the company.
The news directly pertains to Boeing and its stock performance. The lowered estimates due to recent performance could potentially impact the stock negatively in the short term. However, the analyst's maintained long-term confidence and positive rating could balance this out, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100