Bernstein Views Boeing's Q3 Earnings As Challenging, Cuts Price Target By 3.5%

·1 min read
  • Bernstein analyst Douglas Harned lowered Boeing Co's (NYSE: BA) price target to 9 (an upside of 23.7%) from $279 and maintained an Outperform rating on the shares ahead of quarterly results.

  • Harned mentions that despite the potential for recovery in six months, Q3 results appear challenging for Boeing and Airbus SE (OTC: EADSY), with issues by far the greatest at Boeing.

  • The analyst argues that Boeing has two major issues, namely 787 deliveries remaining shut down and 737 MAX deliveries in Q3 in line with his model. The ramp-up still appears slightly slower than his projections.

  • Also Read: Boeing's Stock Is Entering Do-Or-Die Time.

  • Price Action: BA shares are trading higher by 0.56% at $217.18 on the last check Wednesday.

Latest Ratings for BA

Oct 2021

Bernstein

Maintains

Outperform

Sep 2021

Bernstein

Upgrades

Market Perform

Outperform

Sep 2021

UBS

Maintains

Buy

View More Analyst Ratings for BA
View the Latest Analyst Ratings

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting