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CFRA Analyst Is Bullish On Boeing

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Jim Corridore, a CFRA analyst, spoke on CNBC's "Power Lunch" about his bullish view on Boeing Co (NYSE: BA).

The analyst expects that Boeing 737 Max is going to get recertified in September or October and planes are going to fly again in the fourth quarter. The parked planes are going to start to move out and the company is going to start to book revenues on them, said Corridore. He explained that this is a bullish scenario and he is optimistic because the orders were delayed and not canceled.

See Also: How GE Investors Could Benefit From The Boeing Groundings

We would have the bear case scenario if a hold in production happens, explained the analyst. He doesn't think this scenario is going to happen and he is sticking with his Buy rating. Corridore would become concerned if he sees some delay in the recertification process.

Boeing closed Wednesday lower by 3.1% at $361.43.

Latest Ratings for BA

DateFirmActionFromTo
Oct 2019ReiteratesNeutral
Oct 2019MaintainsNeutral
Oct 2019MaintainsOutperform

View More Analyst Ratings for BA
View the Latest Analyst Ratings

Posted-In: CNBC Jim Corridore Power LunchAnalyst Color Long Ideas Analyst Ratings Media Trading Ideas

 

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