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There is 'no where to go but up' for Boeing stock: Jefferies

July 16, 2024 7:17 AM EDT

Boeing's (NYSE: BA) second-quarter preview reveals an optimistic outlook despite recent struggles, according to Jefferies analysts.

"Q2 should hold few surprises," Jefferies notes, citing low expectations for constrained deliveries and significant free cash flow (FCF) usage.

The analysts highlight that the company's path forward is closely tied to improving commercial deliveries and achieving higher production milestones.

Jefferies forecasts a reduction in 2024 MAX... More

Jefferies Reiterates Buy Rating on Boeing (BA), 'No Where to Go But Up From Here'

July 16, 2024 6:04 AM EDT

Jefferies analyst Shelia Kahyaoglu reiterated a Buy rating and $270.00 price target on Boeing (NYSE: BA).

The analyst comments "Q2 should hold few surprises, given low expectations on constrained deliveries (92 vs. 136 a year ago) coupled w/ steep FCF usage ($4.6BB Q2 usage).... More