Skip to main content

GE Aerospace(GE-N)
NYSE

Today's Change
Real-Time Last Update Last Sale Cboe BZX Real-Time

Is Boeing Stock Going to $230? 1 Wall Street Analyst Thinks So.

Motley Fool - Tue Mar 26, 8:07AM CDT

Monday was a busy day for Boeing(NYSE: BA) investors. Not only were they hit with the news that CEO David Calhoun is planning to stand down as CEO of the embattled aviation manufacturer at the end of 2024, but a TD Cowen analyst cut the price target on the stock from $275 to $230 while maintaining an "overweight" rating on the stock.

CEO David Calhoun announces he's standing down

Unfortunately, Boeing's creditability has been damaged by high-profile incidents that call into question its production quality and strategic direction. A new CEO may be just what the company needs. Fortunately, Boeing's board of directors has improved in recent years by adding industrial heavyweights like former General Electric Aviation CEO David Joyce, current Carrier Global CEO and former Collins Aerospace COO David Gitlin, former United Technologies CFO Akhil Johri.

As such, investors have reason to believe the board will make the right choice in appointing a new CEO.

The TD Cowen price also makes sense; the previous target of $275 was significantly above the average target price of $252, and analysts needed to adjust to the company's negative news flow in 2024. Still, even the adjusted price target implies a 20% premium to the current price, and no Wall Street analyst has a "sell" rating on the stock.

Is Boeing stock a buy?

There's undoubtedly a value case for the stock. Still, many of the same arguments you need to believe in to buy Boeing also apply to other stocks, and they come without question marks about a company's operational performance. That is certainly the case with Boeing.

Should you invest $1,000 in Boeing right now?

Before you buy stock in Boeing, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Boeing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than tripled the return of S&P 500 since 2002*.

See the 10 stocks

*Stock Advisor returns as of March 25, 2024

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Paid Post: Content produced by Motley Fool. The Globe and Mail was not involved, and material was not reviewed prior to publication.

More from The Globe

opinion
This Canadian aerospace stock deserves a place on your watch list
Robert Tattersall