By admin Jun, 09, 2020 Private

 Boeing stocks (BA) went from about $90 range low to over $230 per share following analysts  upgrade. Although, Boeing is having production issues due to regulatory clearance surrounding its 737 max airplanes and the coronavirus pandemic. But this didn't stop the stock price from reserving way above 52 weeks low. 

About Boeing 737 Max issues below. 

With the pandemic and the 737 max crash issues, it safe to think that Boeing should struggle for a bit until production picks up after they are cleared by the FAA of all risks of another crash occurring. 

What we know about the current status of Boeing Bussiness

• Ongoing clearance issues to get 737 max back on the air
• Coronavirus pandemic affecting productions 
• 7,000 staff to face layoff 
• Boeing to slash almost 12,300 U.S. jobs in this first batch of cuts stemming from the coronavirus economic shock.
• 9,840 Boeing jobs will be cut before July 31

On the positive side, Boeing is set to reopen its plant in May since the united has started the economy reopening plan. However, Boeing said that they may not embark on a fully engaged production line until June.

Seaport Global Securities upgraded Boeing with a “buy” rating and a $277 price target. The analyst at Global Securities stated that “the worst of pandemic-related risk is now priced in and that Boeing’s free cash flow could peak at a higher rate than is now generally expected”. 

Boeing’s business is in line with commercial flight operations since most airlines are not back in full capacity in terms of flight operation. Boeing may not see an increase in order and as a result, it may affect their upcoming earnings report. 

The Boeing price per share continues to soar and is far ahead from its 52 weeks low.  

• Boeing now at 126 B market cap
  
• It delivers only 4 airplanes in May 2020.
  

Tags: Boeing stock BA Boeing Coronavirus

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