Boeing (BA) PT Raised to $288 as Morgan Stanley Sees More Positives than Negatives

January 27, 2022 7:39 AM EST
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Price: $120.70 -5.07%

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Morgan Stanley analyst Kristine Liwag raised the price target on Boeing (NYSE: BA) to $288.00 (from $274.00) while maintaining a Overweight rating after 4Q21 results offered "overall more positives than negatives".

The analyst stated "Our out-of-consensus take from the 4Q21 results is that there were overall more positives than negatives. Fundamentals are starting to improve. Revenue service of the 737 MAX could start-up in China any day now (bears are still skeptical until it actually happens) and the FAA approval of the 787 fixes could occur by April 2022. Mild symptoms from Omicron provides tailwind to re-opening and China’s re-evaluation of its COVID-19 policy after the Olympics could accelerate return of international travel. In our view, Boeing’s pullback on concerns of how high free cash flow can go when global air traffic is nowhere near pre-COVID-19 levels (40% as of 2021) is premature. It’s too early to gauge demand for new aircraft. Ultimately, aerospace is a duopoly. If air traffic surges, there could be upside to Boeing production rates."

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