Analyst Bullish On Boeing: 2024 Outlook Promises Recovery Amid Supply Chain Woes
Portfolio Pulse from Vandana Singh
RBC Capital Markets upgraded Boeing Company (NYSE:BA) from Sector Perform to Outperform, raising the target price from $200 to $275. The upgrade is based on a favorable outlook for 2024, despite supply chain issues and execution challenges that have previously hindered Boeing's Free Cash Flow (FCF) growth. Analysts expect ~380 737 deliveries in 2023 and 535 in 2024, contributing significantly to the FCF by 2025. Boeing's stock rose 1.48% to $222.54 following the news.
November 28, 2023 | 7:07 pm
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Boeing's stock was upgraded by RBC Capital Markets with a new target price of $275, indicating a positive sentiment for the company's recovery by 2024.
The upgrade by RBC Capital Markets is a strong positive signal for investors, suggesting confidence in Boeing's recovery and future cash flow prospects. The raised target price reflects an expectation of stock growth, which is likely to influence investor sentiment and potentially lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100