Boeing Co. (NYSE:BA) shares fell on Wednesday following the airplane manufacturers’ quarterly results, and a bullish analyst said the recovery route from the current predicament could be a long-drawn one.
Twin Focus Areas: There are two things that are key to the Boeing story now – a potential buyout of supplier Spirit AeroSystems Holdings, Inc. (NYSE:SPR) and roping in a new CEO, said Langenberg & Co. founder Brian Langenberg said in an interview with CNBC.
Boeing's clean up will be a multi-year affair, says Brian Langenberg. he has a Buy on the stock with a $275 PT but a lot hinges on the new CEO.@willkoulouris $BA pic.twitter.com/xhMzua0QvU
— CNBC's Street Signs (@StreetSignsCNBC) April 25, 2024
With on-and-off rumors regarding a potential Spirit AeroSystems buy since last year, it has become a “have-to-think” by the legacy existing management, the analyst said.
Langenberg said he sees a couple of silver linings. If Boeing opts to buy Spirit AeroSystems now, it wouldn’t be buying at peak ...Full story available on Benzinga.com
Related tickers: BA, SPR.
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