Boeing (BA – Research Report), the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Sheila Kahyaoglu from Jefferies maintained a Buy rating on the stock and has a $220.00 price target.
Sheila Kahyaoglu’s rating is based on several strategic developments and operational improvements at Boeing. The company has shown progress in its delivery numbers, with 40 aircraft delivered in February, including 29 737 MAXs, which indicates a steady recovery in its production capabilities. Additionally, Boeing has completed the rework on its 787 aircraft, which is expected to contribute positively to its delivery schedule over the coming years.
Furthermore, Boeing’s strategic moves, such as the potential sale of its Jeppesen unit, estimated to bring in over $7 billion, are expected to significantly aid in reducing its debt levels. The sale of its Insitu drone unit also aligns with Boeing’s focus on streamlining operations and concentrating on core business areas. These factors, combined with new orders from ANA for 787-9s and MAX-8s, position Boeing for future growth, justifying the Buy rating by Sheila Kahyaoglu.
In another report released today, Barclays also maintained a Buy rating on the stock with a $210.00 price target.