- 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.
For further details see:
Boeing Has Declined Significantly, But The Outlook Has Not Improved