Forget Boeing: This Stock Is Poised for a Potential Bull Run in 2024
Investors interested in the aerospace sector naturally gravitate toward high-profile stocks like (NYSE: BA), and for good reasons. Boeing has a multiyear backlog in place and, despite its issues in recent years, remains a critical part of the commercial aerospace industry. Still, there's more to the sector than the first-line names, and I think a lesser-known company like Carpenter Technology (NYSE: CRS) is a better buy. Here's why.
Before discussing Carpenter, a few words on Boeing. The recent results were somewhat disappointing, with management postponing its 2024 guidance as it digests the aftermath of the latest manufacturing quality issue on Boeing airplanes. The latest issue, a structural failure on Alaska Airlines flight 1282, led CEO David Calhoun to tell investors on the earnings call: "We have more work to do. I know that these moments that impact delivery schedules can frustrate our customers and our investors."
As such, he declined to give an outlook for 2024, and CFO Brian West went on to dampen expectations for Boeing's 2025/2026 outlook by saying, "We're still confident in the goals we laid out for '25, '26 although it may take longer in that window than originally anticipated."
Source Fool.com
Boeing Co. Stock
Currently there is a rather positive sentiment for Boeing Co. with 30 Buy predictions and 5 Sell predictions.
With a target price of 233 € there is a positive potential of 47.86% for Boeing Co. compared to the current price of 157.58 €.
