Boeing May Need To Offer Additional Concessions To End Strike Despite Multi-Billion Dollar Debt: BofA Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Boeing faces challenges as a strike by 33,000 workers impacts its operations. BofA analyst Ronald J. Epstein maintains a Neutral rating on Boeing, with a $200 price target, highlighting the company's vulnerability due to delayed production and potential need for wage concessions. Boeing's stock has dropped 25% over the past year, and Moody's has placed its ratings on review for downgrade. Investors can access Boeing through ETFs like iShares U.S. Aerospace & Defense ETF and Gabelli Commercial Aerospace and Defense ETF.
September 13, 2024 | 6:22 pm
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NEGATIVE IMPACT
Boeing is facing a strike by 33,000 workers, impacting its operations and stock price. The company may need to offer wage concessions to resolve the strike. BofA analyst maintains a Neutral rating with a $200 price target.
The strike by 33,000 workers is a significant labor issue for Boeing, affecting its production and financial stability. The need for potential wage concessions and the delay in production increase highlight operational challenges. The stock's 25% decline over the past year and Moody's review for downgrade further emphasize the negative impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Gabelli Commercial Aerospace and Defense ETF, which includes Boeing, may be affected by Boeing's labor issues and stock price decline.
Boeing's challenges, including the strike and stock price decline, could impact the performance of the Gabelli Commercial Aerospace and Defense ETF, which includes Boeing.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
iShares U.S. Aerospace & Defense ETF, which includes Boeing, may be impacted by Boeing's current labor issues and stock price decline.
As Boeing is a significant component of the iShares U.S. Aerospace & Defense ETF, the strike and stock price decline could negatively impact the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50