Here's Why Boeing Stock Declined in September
Shares in aerospace and defense giant (NYSE: BA) fell by 12.5% in September, according to data provided by S&P Global Market Intelligence. The fall comes as Boeing's management failed to reach an agreement with the International Association of Machinists and Aerospace Workers (IAM) Union District 751 over a new contract.
The failure to reach a quick agreement resulted in an ongoing strike action, which is still unresolved. Unfortunately, it's the last thing Boeing needs right now as it plans to ramp up airplane production and return the company to generating cash flow.
As you can see, deliveries of Boeing's narrowbody 737 declined significantly in the first half of 2024 as manufacturing quality issues forced management to slow deliveries. Management's plan was to get back to a rate of 38 a month by the end of the year.
Source Fool.com
Boeing Co. Stock
Currently there is a rather positive sentiment for Boeing Co. with 39 Buy predictions and 6 Sell predictions.
With a target price of 215 € there is a hugely positive potential of 52.33% for Boeing Co. compared to the current price of 141.14 €.
