Aerospace company Boeing (NYSE:BA) declined in trading on Friday after Deutsche Bank analyst Scott Deuschle lowered his forecast for commercial plane deliveries to 384 this year, down from his prior estimate of 404 deliveries.
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The analyst adjusted this forecast following the discovery of mechanical defects in certain planes, prompting Boeing and supplier Spirit AeroSystems (SPR) to expand their inspections of 737 Max 8 planes, according to The Air Current. Deuschle also reduced the Q4 delivery estimate for Boeing’s 737 planes to 98 from 118. The analyst has lowered the full-year free cash flow projection for Boeing to $3.5 billion, down from the earlier projection of $3.8 billion.
Deuschle is sidelined on the stock with a Hold rating and a price target of $204, implying an upside potential of 9.9% from current levels. The analyst’s price target is the lowest on the Street.
Is BA a Good Buy Right Now?
Analysts are cautiously optimistic about BA, with a Moderate Buy consensus rating based on 11 Buys and six Holds. The average BA price target is $252.75, implying an upside potential of 36.5% from current levels.
