Boeing Stock Has 22% Upside, According to 1 Wall Street Analyst
Dogged by quality concerns with its airplanes, a management shakeup, and -- most recently -- a report that Southwest Airlines (NYSE: LUV) will accept delivery of only 20 Boeing jets this year, down from the 85 it once expected, (NYSE: BA) stock fell for a tenth straight day Friday. Pouring salt into the wound, JPMorgan on Friday cut its Boeing price target to $210 a share.
But here's the good news: Boeing stock costs $170 a share today. A move to $210 would be a 23.5% improvement!
And so, despite Boeing's many problems, JPMorgan still insists Boeing stock is a blue-chip buy. Commenting on TheFly.com Friday, JPMorgan analyst Seth Seifman argues that now that Boeing has released its Q1 2024 numbers -- 83 total airplanes delivered -- investors are probably reconciled to the fact that Boeing's not building planes as fast as it used to. It's not going to earn as much as some investors may have hoped, or as fast, either.
Source Fool.com
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