The aerospace company Boeing Co (NYSE: BA) seems to be doing well and the same seems to reflect on the health of its stock price. The jet manufacturer is receiving orders from clients across the United States to Russia. In addition, the internal management also indicated several changes seeking growth in upcoming years.
Boeing Management Tweaking Strategy
In November 2022, the company management reportedly shared some insights of the company’s growth in upcoming years during an investor conference. From now on, the company will have free cash flow (FCF) to gauge the performance. The yearly flow of cash is likely to be credited to investors in return—for paying dividends or buying back the shares.
Given the company’s FCF getting deterred from its expected path, the investors are seeking to focus on it now. Moreover, the debts over Boeing could also be the challenge for the company to deal with in coming years.
Boeing (BA) Stock Price Movement
Boeing stock price is continuously marching upside as its price action makes higher-lows momentum in each time frame. As of now, asset price stays below the 0.5 level of fib retracement (closer to $200 level), buyers may record another yearly recovery above this level. In addition, the RSI indicator turned towards the higher side, a healthy sign for uptrend.
The company with a wide profile consisting of defense, space and security systems, have witnessed heavy blows within the past several years. The bad omen which the broader aviation industry met with during the pandemic heavily impacted the company. Boeing stock prices that were trading at around 340 USD in mid February 2020 dropped down till 95 USD by March 2020. A steep decline of over 70% within a month.
With the post pandemic recovery, however, the aviation industry picked up the pace and the company followed. By the following year, stock price bounced back and reached a yearly high of over 269 USD in 2021, remaining below from its highs earlier though.
More or less the company seems to be in good shape and analysts are also optimistic about it. Wall Street Journal and Barron’s analysts put an ‘overweight’ stock rating for Boeing stock with the target price of about 200 USD.
Disclaimer
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/01/04/is-boeing-stock-getting-ready-to-fly-in-2023/