Boeing (BA) Has Financial Risk Over T-7A Project Delay - Jefferies
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Jefferies analyst Sheila Kahyaoglu reiterated a Buy rating and $300.00 price target on Boeing (NYSE: BA) after research has indicated that the USAF’s T-7A Red Hawk Advanced Trainer has fallen as much as 15 months behind schedule.
The delay is due to a combination of parts shortages, initial design delays and the discovery of aircraft wing rock. The analyst stated "This has likely pushed out Milestone C to FYQ4 2023 and potentially introduced financial risk. However, there was some acknowledgement, with an initial charge of $400MM taken at the time of the win in 2018. As a reminder, the T-7A was one of the 3 major program wins at BA."
Shares of Boeing closed at $239.22 yesterday.
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