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Wall Street sets Boeing stock price for the next 12 months

Wall Street sets Boeing stock price for the next 12 months

After months of robust stock price recovery, Boeing (NYSE: BA) faced a fresh wave of challenges at the onset of 2024. 

The aerospace giant witnessed a substantial plunge, hitting the lowest point in over a month, triggered by renewed concerns surrounding the beleaguered 737 Max model. The 737 MAX 9, operated by Alaska Airlines, made headlines after a mid-air incident led to an emergency landing, raising apprehensions among investors about Boeing’s potential business setbacks. 

The Federal Aviation Administration (FAA) and global regulators swiftly responded, prompting investors to reevaluate their positions. In response to these developments, the FAA initiated a formal investigation into Boeing’s processes, examining potential discrepancies in ensuring completed jets align with their approved design. 

As the planemaker grapples with these challenges, Finbold delves into deeper insights, exploring consensus 12-month price forecasts to shed light on BA’s prospective trajectory.

Wall Street’s price targets on BA stock

According to data retrieved on January 12, Wall Street’s consensus expectations for Boeing’s stock price in the following months are largely optimistic.

With the current average 12-month price target for the company’s shares standing at $278.40, there is an implied upside potential of over 25% from the recent closing stock price of $222.66. 

Consensus 12-month price target on Boeing stock. Source: TipRanks

Adding to the positive outlook, the stock maintains an average analyst rating of ‘Strong Buy.’ This consensus is based on feedback from 23 experts who have consistently expressed bullish sentiments on BA over the past three months. During this period, 19 analysts rated Boeing’s stock as Buy, while just 4 see it as Hold, per TipRanks data

Most recent analyst coverages on BA stock are negative

Since the aforementioned consensus price target accounts for all analysts who covered the stock in the past 3 months, the overall sentiment toward Boeing is still positive.

However, most recent reports, which were released around the 737 MAX 9 incident are not as bullish.

For instance, stock analysts at Edward Jones downgraded BA stock from Buy to Hold on January 8.

A few days earlier, Goldman Sachs strategist Noah Poponak removed Boeing’s stock from the bank’s Conviction Buy list and downgraded it to Buy. The analyst’s price objective on BA appeared to be unchanged at $258. 

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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