FIDU - Boeing Has Declined Significantly But The Outlook Has Not Improved

May, 24 2022 03:53 PM Fidelity MSCI Industrials Index

The air transportation market is in the process of recovery; we expect air traffic to regain pre-COVID-19 level by 2024.
Due to problems with existing aircraft models, Boeing is incurring abnormal costs that are putting pressure on the company's margins.
Delays in FAA approvals and aircraft deliveries put additional pressure on the company's quotes.
Despite good upside in the medium term and a significant quotes decline in May, we change our recommendation on the stock from SELL to HOLD.

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Company Name:	Fidelity MSCI Industrials Index
Stock Symbol:	FIDU
Market:	NYSE