Bernstein expects Boeing's stock to be driven higher by increases in the company's Q3 and Q4 cash flows. The firm estimates that the company's 2015 free cash flow will come in above $7B and rise in 2016 and 2017. Bernstein believes that airplane demand is still "very strong," and it keeps a $196 price target and Outperform rating on the shares.
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Reports Q1 revenue $16.6B, consensus $15.22B. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Dave Calhoun, Boeing president and CEO. "We will take the time necessary to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future."
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Boeing (BA) is expected to report results on its fiscal first quarter on Wednesday, April 24, with a conference call scheduled for 10:30 am EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here