Boeing production halt should be end of negative news, says Jefferies - InvestingChannel

Boeing production halt should be end of negative news, says Jefferies

Last night’s 737 MAX production halt announcement should be the end of the negative news flow for Boeing, Jefferies analyst Sheila Kahyaoglu tells investors in a research note. The analyst keeps a Buy rating on the shares with a $420 price target. The stock in premarket trading is down $4.60 to $322.40. The halt creates continued volatility given uncertainty on the return to service, says the analyst. However, Kahyaoglu still targets over $30 per share of free cash flow in 2022. She estimates $18.30 per share of free cash flow in 2020, climbing to $27.90 in 2021 and $30.80 in 2022.