CA - Boeing Regains The Bullish Narrative With CEO Change

2024-03-27 09:00:00 ET

Summary

• Boeing's CEO and Board Chair are stepping down, signaling a significant change in leadership to assure stakeholders.
• BA investors need the confidence that Boeing is committed to its long-term future over short-term results.
• Despite near-term uncertainties, Boeing's order book and potential for recovery under new leadership should augur well.
• I explain why buyers have continued to defend BA's $175 support level robustly, suggesting peak pessimism.
• With much of the bad news baked in, I explain why the current pullback offers a golden buying opportunity.

Boeing CEO Steps Down

Investors in The Boeing Company ( BA ) likely found respite recently, as CEO Dave Calhoun announced his decision to step down from his role by the end of 2024. In addition, Board Chair Larry Kellner indicated his intention not to seek re-election. As a result, I gleaned that Boeing has finally gotten its act together to deliver the correct signals to key stakeholders about its intention to change....

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