Boeing's stock lost roughly 9 percent Monday after one of its best-selling planes saw its second deadly crash in less than five months. Three experts opine on what's next for the stock.
Shares of Boeing lost roughly 9 percent on Monday after one of its best-selling planes, the Boeing 737 MAX jet, saw its second deadly crash in less than five months, and Wall Street is divided on what's next for the stock.
div > div.group > p:first-child"> Here are three experts' opinions on what's in store for the aircraft manufacturer: • Former Continental Airlines CEO Gordon Bethune told CNBC that what some have contended was the cause of the crash — a failed automatic sensor — needs further inspection:"Of course, there is a procedure to disconnect. So, this should never happen automatically, because if it does, you trip it. I don't understand why that didn't happen. I know they need to find that out, and the voice recorder and data recorder will give them that.
• Melius Research's Carter Copeland, an aerospace and defense analyst, said the news creates some dissonance in the shares:"You've got the stock now back where it was around the quarterly results, and the quarterly results were fantastic. So what you've seen is a multiyear story of margin improvement and cash flow generation here that played out.
• Sheila Kahyaoglu, aerospace and defense analyst at Jefferies, said the pressure's on Boeing because of the popularity of the 737 MAX jet:"The big focus [is], obviously, it's a tragic accident, but it's also [that] Boeing's commercial aircraft business is about 60 percent of sales. The 737 is about 25 percent of total company sales, and it is a big part of the free cash flow driver, so that's why there's such a focus.
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