#2 - Boeing (NYSE:BA)
The Boeing Co. (NYSE: BA) is tied for the second-highest number of downgrades with 21. And as recently as May 1, 2024, Argus downgraded Boeing to Hold.
Boeing had a disastrous first quarter in 2024. Numerous quality control issues led to the announcement that its CEO would resign by the end of the year.
As a result, BA stock is down 34% in 2024, erased all of the gains it made in the last 12 months. Nevertheless, there’s a reason to consider BA stock more than just a momentum play.
The reason is that, while the company may deliver fewer planes as they heighten their quality control efforts, it’s nearly impossible to believe that the quality of their aircraft will get worse. That means that, over time, revenue and earnings will improve. That could be why the Boeing analyst ratings on MarketBeat continue to show a consensus price target for BA stock of $222.41. That’s not a short-term story but an idea that could take flight.
About Boeing
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.
Read More - Current Price
- $143.83
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $190.37 (32.4% Upside)
