Boeing Company (NYSE:BA) shares are trading slightly higher Tuesday, though the troubled company's stock remains down more than 30% year-to-date.
What To Know:
According to a Reuters report released Tuesday, Boeing's defense, space and security suppliers improved their on-time deliveries, but still did not meet requirements for satisfactory performance suppliers in 2023. The suppliers delivered 80% on-time in 2023, according to a spokesperson and a division executive’s online presentation viewed by Reuters.
According to a Bloomberg report, Boeing is considering the sale of two of its defense businesses in order to bolster the company's balance sheet. The assets reportedly being considered for sale are its Digital Receiver Technology, Inc. unit and the Argon ST subsidiary.
Boeing has reported it is in talks with Spirit Aerosystems Holdings, Inc. (NYSE:SPR) regarding a possible acquisition of the company in an attempt to correct recent quality control and manufacturing issues within both companies.
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Will BA Stock Go Up?
When trying to assess whether or not Boeing (NYSE:BA) will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $247.71 on Boeing. The Street high target is currently at $279 and the Street low target is $215. Of all the analysts covering Boeing, 4 have positive ratings, 3 have neutral ratings and no one has negative ratings.
In the last month, 3 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Boeing have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Boeing is 11.97% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Boeing, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
BA Price Action: According to Benzinga Pro, Boeing shares are up 0.37% at $180.51 at the time of publication.
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