Boeing (NYSE:BA) Stock Rating Supported by Royal Bank of Canada

October 28, 2024 05:14 AM PDT | By Team Kalkine Media

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Boeing (NYSE:BA) Stock Rating Supported by Royal Bank of Canada — Image source: Shutterstock

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Highlights

Royal Bank of Canada maintains an outperform rating on Boeing, with a target price set at $200.00 per share.

Recent analyst revisions show a mix of ratings, with several firms lowering their price objectives for Boeing stock.

The stock is currently viewed as a "Moderate Buy" with a consensus price target of approximately $191.79.

Boeing (NYSE:BA) remains a focal point in the aerospace and defense sector, particularly as analysts continue to evaluate its market performance amidst recent financial results. Royal Bank of Canada reaffirmed its outperform rating for Boeing shares, suggesting confidence in the company’s potential for growth, while also setting a target price of $200.00.

In recent reports, several analysts have adjusted their price objectives for Boeing, reflecting varying levels of confidence in the company’s performance. Sanford C. Bernstein lowered its price target from $207.00 to $195.00, while JPMorgan Chase reduced its price target from $235.00 to $195.00, both maintaining an outperform rating. Other firms, including Morgan Stanley and Deutsche Bank, have also revised their targets, highlighting a broader caution within the market regarding Boeing’s near-term outlook.

Boeing shares opened at $155.01, with the stock's 52-week range spanning from a low of $146.02 to a high of $267.54. The company's market capitalization stands at approximately $95.16 billion, with a P/E ratio currently at -43.66. Recent financial disclosures revealed that Boeing reported earnings per share of -$10.44, slightly below consensus estimates, alongside a revenue figure of $17.84 billion for the quarter.

Institutional ownership remains robust, with approximately 64.82% of the company’s shares held by various funds. The landscape for Boeing’s stock is influenced not only by internal performance metrics but also by external market conditions, including consumer sentiment and competitive dynamics within the aerospace sector.

As Boeing navigates these challenges, the focus will likely remain on its recovery trajectory and operational adjustments aimed at enhancing performance and restoring market confidence.

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