Boeing (BA) Results Could Have Been Worse - Vertical Research Partners
Vertical Research Partners analyst Robert Stallard reiterated a Buy rating and $413.00 price target on Boeing (NYSE: BA) after the company reported 2Q19 results of a core loss per share of $5.85. No firm consensus is available to compare it against but an outlook may be available after the call today at 10:30ET.
The analyst stated "In terms of the numbers, 2Q was actually better than what we had conservatively modelled for Boeing, though we’re not sure if this will be the case for all the other estimates that are out there. Similarly, there remains considerable uncertainty in the estimates going forward, as there are no doubt many different assumptions regarding the MAX and its return to action. The 777X news is not wholly unexpected given the reported issues with the GE9X, but we think getting the plane certified for delivery less than one year after first flight is very optimistic. So while the 777X news is a negative, Boeing’s shares may go OK today – after all, it could have been worse."
Shares of Boeing closed at $369.90 yesterday.