With aerospace stock Boeing’s (BA) earnings report now available, the analysts are digesting the news and returning new commentary accordingly. In fact, a panoply of new results emerged in just the last several hours, with much of it looking like good news. Oddly, that did not sit well with investors, who sent shares down fractionally in Wednesday afternoon’s trading.
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News came out from all over, starting with Bernstein’s SocGen Group. The group kept its Outperform rating on Boeing shares, and gave the price target a bit of a goose, sending share targets up from $282 per share to $287. One of the biggest reasons here was Boeing’s free cash flow guidance for the full-year, which came in around $3 billion. Bernstein considers that “conservative.”
Susquehanna analysts kept their Positive rating in place, and pushed up the price target from $265 per share to $270, citing improving production rates and brushing off concerns about the military division’s potential strike, pointing out the numbers are around a tenth of what was seen with the last strike. Barclays, meanwhile, kept its Overweight rating in place and hiked its target from $210 per share to $255. It believed the market move after Boeing’s earnings announcement was “unwarranted.”
It Just Kept Going
The ratings did not stop there, either. UBS kept its Buy rating in place, and bolstered the price target from $255 per share to $280. UBS pointed out the impressive surge in 737 Max aircraft production, going from a complete halt to 38 jets per month, complete with what it called “supportive quality KPIs.”
And just to round out the field, Wolfe Research came in, keeping its Outperform rating in place and hiking its price target from $240 per share to $250. Wolfe joined Bernstein in applause of the free cash flow statistics, and noted that the drop in shares that followed the earnings announcement made no sense in light of the figures seen.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 18 Buys and two Holds assigned in the past three months, as indicated by the graphic below. After an 18.61% rally in its share price over the past year, the average BA price target of $253.21 per share implies 11.38% upside potential.
