Boeing (BA) Still Working Through Issues As 1Q Deliveries Comes Up Short - Wolfe Research
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Wolfe Research analyst Mike Maugeri reiterated a Peerperform rating on Boeing (NYSE: BA) after the company reported 1Q22 BCA deliveries of 95 planes, below expectations for 111.
The analyst stated "We maintain our peer perform rating on shares of BA. We value BA on 19.5x average 2023-25 EV/FCF discounted back one year at our estimate of BA's WACC. We continue to see the fundamental demand backdrop for commercial OEM deliveries as favorable, particularly for narrowbody aircraft, but BA still has idiosyncratic issues to work through."
Shares of Boeing closed at $176.28 yesterday.
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