Boeing CEO change timing provides stability, says Morgan Stanley

After Boeing (BA) announced that CEO Dave Calhoun would step down from the post at the end of 2024, Morgan Stanley said that “the market generally expected turnover in the senior ranks” following Boeing’s latest issues stemming from the Alaska Airlines (ALK) Flight 1282 incident. The timing of Calhoun’s resignation “provides stability throughout the end of the year during a time of uncertainty, while providing Boeing time to find a successor,” says the firm, which expects the market to receive the news positively. The firm has an Equal Weight rating and $235 price target on Boeing shares, which are up $7.15, or 4%, to $196.00 in pre-market trading.