Boeing shares are approaching 'cruising altitude' after taking off at the tail end of 2022, according to Morgan Stanley.
Boeing shares are approaching "cruising altitude" after taking off at the tail end of 2022, according to Morgan Stanley. Analyst Kristine Liwag downgraded the aerospace and defense stock to equal weight from overweight, saying in a note to clients Tuesday that the 65% surge in shares since the start of the fourth quarter puts them in line with their fair value.
" While demand for Boeing's aircrafts is holding up, Liwag expects supply chain bottlenecks to persist at least through the first half of the year. These problems should weigh on the company near term and will likely impact its ability to generate cash, she said. Despite the downgrade, Liwag expects Boeing to post its first positive free cash flow year in 2022 after burning through funds amid regulatory issues related to its 737 MAX and 787 models.
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