Boeing has skyrocketed 58% so far this month on hopes of a travel industry reboundPublished by Terence Mahier | Source
Boeing has skyrocketed 58% so far this month on hopes of a travel industry rebound ✈️
The sector has been shattered by the coronacrisis and Boeing lost more than half of its market capitalization since Feb due to successive airlines canceling their existing orders and showing no signs of making new ones 📉
Yet, the market "FOMO"' (Fear Of Missing Out) pushed the whole industry to rid ea wave of investor optimism on the reopening of the economy and a revival in air travel with American Airlines up 50% last week 🔥
Some analysts are calling this rebound too precocious while others think the market is looking ahead - what about you?
Boeing gathered some analyst love over the weekend, as Goldman Sachs raised its stock price target, saying delivery deferrals and cancellations among major airlines amount to 17% of deliveries in 2020 a- better than the market is anticipating - and Seaport Global issued a Buy recommendation, believing "the worst is now being priced in" absent another coronavirus outbreak 💌
Boeing is still down 29% since January after losing more than two-thirds of its value from February to March as air traffic collapsed and lockdown measures roiled the global economy 🧐
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- Newspill Team 💊
09-Jun 09:05 (Eastern Time)
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