Aerospace company Boeing (NYSE:BA) declined in trading on Friday after Deutsche Bank analyst Scott Deuschle lowered his forecast for commercial plane deliveries to 384 this year, down from his prior estimate of 404 deliveries.
The analyst adjusted this forecast following the discovery of mechanical defects in certain planes, prompting Boeing and supplier Spirit AeroSystems (SPR) to expand their inspections of 737 Max 8 planes, according to The Air Current. Deuschle also reduced the Q4 delivery estimate for Boeing’s 737 planes to 98 from 118. The analyst has lowered the full-year free cash flow projection for Boeing to $3.5 billion, down from the earlier projection of $3.8 billion.
Deuschle is sidelined on the stock with a Hold rating and a price target of $204, implying an upside potential of 9.9% from current levels. The analyst’s price target is the lowest on the Street.
Is BA a Good Buy Right Now?
Analysts are cautiously optimistic about BA, with a Moderate Buy consensus rating based on 11 Buys and six Holds. The average BA price target is $252.75, implying an upside potential of 36.5% from current levels.
