Boeing's Delivery Tally Falls Short Of Airbus, Yet Analyst Creates Bullish Pitch For Stock

  • Credit Suisse has upgraded Boeing Co BA from Underperform to Neutral, with a price target of $200, up from $121.
  • The analyst upgraded the planemaker on improved operational performance.
  • The analyst notes strong aircraft deliveries, reducing the opportunity for downward estimate revisions, instead creating an upside opportunity.
  • Boeing boosted deliveries by 41% in 2022 over the previous year to 480 commercial jets, which fell short of Airbus EADSY.
  • Credit Suisse sees an upside for Q4 free cash flow, with an analyst estimate of $3 billion versus the consensus of $2. billion.
  • Finally, China lifted a ban on Australian coal imports suggesting increased policy flexibility, which may result in Boeing regaining market access.
  • Related: JP Morgan Thinks Boeing Is Riding The Momentum.
  • Credit Suisse raised the FY22-25 EPS estimates to -$(9.37)/$0.68/$4.50/$9.36 from -$(9.38)/$0.41/$4.07/$8.55 on higher Boeing Commercial Airplanes (BCA) deliveries and improved margins.
  • The analyst estimates 772 BCA deliveries in 2025, up 13 units versus prior but slightly shy from the guidance of 800.
  • Price Action: BA shares are up 2.51% at $213.25 on the last check Thursday.
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