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Is Boeing a Buy Under $200?

Stock MarketsDec 01, 2021 08:31AM ET
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© Reuters. Is Boeing a Buy Under $200?

Aerospace giant Boeing (NYSE:BA) is facing several headwinds in its commercial business related to quality issues that have compelled the company to slow its production. Its stock has declined 6.1% in price over the past five days and is currently trading below $200. And because a newly identified COVID-19 variant threatens the recovery of the aerospace industry, the question is, is BA worth betting on now? Keep reading to find out.Chicago-based Boeing Co . (BA) operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. Over the past six months, BA shares have slumped 19.6% in price to close yesterday’s trading session at $197.85. The stock is currently trading well below its 50-day and 200-day moving averages.

Global supply chain disruptions are straining the plane maker and its suppliers as demand picks up. These disruptions are driving up costs and hampering the aerospace industry’s recovery from the COVID-19 pandemic. In addition, BA has been facing delays correcting technical problems. BA has slowed production of its 787 Dreamliner as it addresses defects that are delaying its delivery of new jets..

BA shares had slumped more than 4% price on Nov. 19 in response to its 787 news. Also, investor confidence in BA appears thin following the two 737 MAX debacles in 2019 and 2020 and the company’s lingering engineering and quality issues. Moreover, because the World Health Organization warned that the new COVID-19 omicron strain is a ‘variant of concern,’ countries are considering imposing new restrictions and banning international travel, threatening global air traffic.

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Is Boeing a Buy Under $200?
 

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Seong Yun Jung
Seong Yun Jung Dec 01, 2021 2:04PM ET
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haha ok you are short
 
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