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Morgan Stanley names its Top Aerospace Pick for 2024
December 20, 2023 2:13 PM ESTMorgan Stanley describes the COVID-19 lockdowns as the worst exogenous shock in the history of aviation. However, as the Aerospace sector recovers in 2023, global air traffic is back to ~98% of pre-COVID-19 levels.
That being said, total aircraft deliveries from OEMs, such as Boeing (NYSE: BA) and Airbus, are only expected to be ~77% of 2018 levels.
Our view is that Aerospace is an Attractive sector in 2024, but we are more selective on stocks due to valuation, capital return potential, and execution risks. Our top Aerospace pick is OW-Howmet (HWM), Morgan Stanley analysts wrote in a... More
