Boeing Expected to Recover from Quantas Cancellation (BA)

Despite Quantas’ recent airplane order cancellation, Oppenheimer analyst Yair Reiner believes The Boeing Company (BA) should still meet original backlog expectations.

After the recent Quantas cancellation, many people were questioning whether BA will really have enough orders to keep itself busy for the next seven years as previously suggested. Although many are not sure if this number is realistic, analysts believe that this cancellation will not have a major effect on the company overall. Boeing is currently rated as an “Outperform” with a price target of $90 from Oppenheimer. This price target suggests a 20.3% increase from the stock’s current price of 71.67 on Friday, and a 18.5% increase from the stocks YTD price of $73.35.

Boeing shares were up 69 cents or 0.97% on Friday. The airline manufacturing giant’s shares are roughly unchanged YTD.

The Bottom Line
Shares of Being (BA) have a 2.48% dividend yield, based on last night’s closing stock price of $70.83. The stock has technical support in the $66-$68 price area. If the shares can firm up, we see overhead resistance around the $74-$76 price levels.

The Boeing Company (BA) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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