01:45 PM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target of $151, cut $13, reflects a 25x multiple of our '25 EPS estimate, slightly below BA's long-term historical forward average. We cut our '24 EPS estimate by $1.38 to $0.37 and '25's by $0.81 to $6.04. A Q1 operating loss/share of $1.13, vs. a loss/share of $1.27, was $0.30 narrower than the consensus. BA delivered 83 planes in Q1, including 67 in the 737 MAX category. We remain wary on BA on three counts. First, BA is saying all the right things about a return to quality and a safety-first approach to manufacturing, but we think continued adherence to a goal of 50 units/month on the 737 MAX, now by late 2026, is still going to be very difficult. Second, we think the rumored Spirit AeroSystems (SPR 32 ***) purchase is an unneeded distraction when BA has enough problems to iron out under its own roof. Third, BA has evinced support for an internal candidate for the next CEO, but we believe that an external candidate (with an engineering background) is critical to a top-down culture makeover.