Credit Suisse has revised its loss projection for Boeing Company (BA:NYE) in advance of the aerospace company’s first-quarter earnings report, which is expected on April 26. The revised forecast predicts that Boeing will report a loss of $2 per share in 2023, as opposed to the previous estimate of a loss of $1.71 per share. However, Credit Suisse believes that Boeing will return to profitability in 2024 and 2025 as a result of robust demand. Credit Suisse raised its EPS forecast for 2024 to $3.92 from $3.58, and it anticipates earnings of $9.32 per share in 2025, up from $9.20.
Credit Suisse predicts that supply chain headwinds and labor instability, especially in the Defense, Space & Security segment, will continue to weigh on the company’s short-term profitability. Analysts anticipate that Boeing will report Q1 revenue of $17.67 billion and a loss per share of $0.85, compared to a loss per share of $2.75 in the same period last year.
Credit Suisse is optimistic about Boeing’s long-term development prospects despite its current difficulties. The company’s robust backlog indicates future growth, and its focus on resuming production of its 737 Max jet is an encouraging indication. Additionally, the sustained growth is likely to continue, as the airline industry continues to recover.
Boeing Stock Forecast:
Currently, the consensus rating for Boeing stock is Buy, with 11 Buy, five Hold, and one Sell recommendation. The average analyst price target is $201.03, and the Boeing stock forecast indicates an upside potential of 9.65%.