Boeing Stock Cut to Hold at CFRA
<p>CFRA analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/BA'>Boeing (NYSE:BA)</a> from Buy to Hold and reduced the price target from $253 to $210 per share. The analysts cited several quality control issues in the aerospace industry that are expected to have some impact on Boeing's delivery schedule. The expected loss per share for 2023 has been increased by $2.39 to -$3.29, and the earnings per share estimate for 2024 has been lowered by $0.63 to $5.39. </p>
<p>While Boeing aims to deliver 50 of its 737 planes per month by 2025-2026, the analysts noted that the current guidance remains below early 2019 levels, and Boeing's stock is currently trading at a higher valuation than it was in early 2019. Nevertheless, CFRA maintains a positive long-term outlook for aircraft demand, estimating that approximately 76% of the global fleet from 2022 will need replacement by 2042.</p>

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