- While Boeing (NYSE:BA) is a "deeply wounded organization," the restart of 737 MAX deliveries in December marked a turning point toward a financial recovery, Berenberg writes in a fresh research note. BA +0.6% premarket.
- Assigning a PT of $215 (from $150), analysts Andrew Gollan and Ross Law upgraded shares to Hold from Sell, saying they are fairly valued on a medium-term view. Sentiment risks are balanced between recovery potential vs. ongoing near-term headwinds and virus uncertainty, they added.
- Boeing is still saddled with over $60B of gross debt, leading Berenberg to prefer Airbus (OTCPK:EADSY) based on its overall quality and underlying growth potential. Boeing also fell further behind Airbus in 2020 as commercial plane deliveries drop 59%.