Is Boeing Stock Going to $224? 1 Wall Street Analyst Thinks So
It's no secret that (NYSE: BA) stock has encountered a considerable amount of turbulence so far in 2024. While the S 500 has risen about 6%, shares of the aircraft manufacturer have plunged more than 36% since the start of the year.
But one analyst sees smoother sailing ahead -- though admittedly not as smooth as previously thought. Jason Gursky, an analyst at Citigroup, lowered his price target on Boeing stock to $224 from $252 Thursday. Based on the stock's recent closing price of $164, Gursky's new estimate still implies upside of more than 36%.
Reporting $16.6 billion in revenue and a $1.13 loss per share, Boeing beat analysts' estimates that it would book $15.2 billion on the top line and a $1.65 loss per share. The company's surprisingly strong performance contributed to the analyst's belief that shares can soar higher, but that wasn't the only factor.
Source Fool.com
Boeing Co. Stock
Currently there is a rather positive sentiment for Boeing Co. with 32 Buy predictions and 5 Sell predictions.
With a target price of 230 € there is a positive potential of 36.56% for Boeing Co. compared to the current price of 168.42 €.
