Goldman Sachs Analyst Remains Bullish On Boeing Despite Weak Q3: 'Long-Term Deep-Value Opportunity'
Portfolio Pulse from Piero Cingari
Goldman Sachs analyst Noah Poponak maintains a bullish outlook on Boeing Co. (NYSE:BA) despite its weak Q3 performance, citing it as a 'long-term deep-value opportunity.' Poponak reaffirms a Buy rating with a $200 price target, highlighting robust aircraft demand, planned capital raises, and new leadership as key factors for recovery. Boeing's Q3 results showed revenue of $17.84 billion and a core EPS loss of $(10.44), with significant losses in the Commercial Airplanes segment due to production setbacks and a machinists' strike. The Defense, Space & Security division also faced challenges, while Global Services showed improved margins. Boeing plans to raise $18 billion to support its balance sheet amid ongoing labor disputes and production challenges.
October 25, 2024 | 3:23 pm
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Goldman Sachs analyst Noah Poponak reaffirms a Buy rating on Boeing Co. (NYSE:BA) with a $200 price target, despite weak Q3 results. He cites strong aircraft demand, planned capital raises, and new leadership as factors for potential recovery.
The analyst's reaffirmation of a Buy rating and a significant price target suggests confidence in Boeing's recovery potential. The mention of strong demand, capital raises, and new leadership indicates positive long-term prospects, despite current challenges.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100