Boeing slashed to Hold on wider expected losses: 4 big analyst cuts
The firm revised its earnings estimates, with an increased expected loss per share in 2023 of and a reduced earnings per share estimate for 2024 of $5.39.
BA guided for deliveries of its family of 737 planes at 50 per month by the 2025-2026 time frame, which still affords time to resolve issues, but we note that current guidance remains below early '19 guidance levels, despite more runway to get there; and BA shares already fetch a higher multiple today than in early '19.
Despite these concerns, CFRA acknowledges the long-term potential for aircraft demand, with an estimated 76% of the 2022 global fleet likely to require replacement by 2042, presenting opportunities for Boeing.
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