UPDATE: Wolfe Research Assumes Boeing (BA) at Peerperform

February 16, 2022 5:13 AM EST
Get Alerts BA Hot Sheet
Price: $139.84 +2.28%

Rating Summary:
    24 Buy, 10 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 13 | New: 10
Join SI Premium – FREE
(Updated - February 16, 2022 5:16 AM EST)

Wolfe Research analyst Mike Maugeri assumes coverage on Boeing (NYSE: BA) with a Peerperform rating.

The analyst comments "We see the fundamental demand backdrop for commercial OEM deliveries as favorable, particularly for narrowbody aircraft but BA still has idiosyncratic issues to work through related to burn down of parked inventory and customer concessions on the 737 MAX and 787, and advances that it's been holding on to since the grounding of the 737 MAX in March 2019. Additionally, BA has built up a mountain of debt that takes away value from shareholders. There's likely upside to BA's share price if it can work through these issues and avoid new ones. But we don't have a high degree of confidence that will happen, and we don't expect to see a clear path there by YE22, which is the time period our valuation frameworks target. Our YE22 fair value estimate is $233/sh, we value BA on average 2023-25 EV/FCF discounted back one year at our estimate of BA's WACC. We discuss valuation and our framework later in this section."

For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.

Shares of Boeing closed at $217.73 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage