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《大行報告》美銀證券降波音(BA.US)目標價至255美元 反映短期風險增加及投資者興趣減弱
阿思達克 01-18 15:23
美銀證券發表報告指出,美國聯邦航空局(FAA)加強對波音(BA.US)品質監控程序、增加檢查次數,以及外部機構對公司質量管理的評估,或進一步給公司產量增速及利潤帶來壓力。考慮到波音的傳統和歷史,該行對當局要求外部機構對波音作出評估建議感到驚訝。 該行認為,在波音MAX 9停飛之前便留意到,公司計劃在今年6月將737客機每月產量提高至47.2架飛機,及至今年12月進一步提高產量至每月52.5架飛機的目標面臨重大風險。事實上,踏入今年公司每月737飛機產量只有略多於20架。由於預期公司將分配更多資源及時間用於監督上,可能拖累本已低迷的生產水平,該行相信波音要達標的可能性將更低。該行繼續估計公司今年對737飛機每月平均產量約36架。 此外,該行料波音MAX 9的問題將為公司管理層帶來進一步的壓力,相信管理層的可信度與能力受到質疑,因有關事件反映出在MAX系列最初停飛和疫情放緩後,公司在改善執行方面取得的進展遜預期。該行保持對波音謹慎樂觀的看法,維持「買入」評級,但因短期風險增加和投資興趣減弱影響,對其目標價由275美元下調至255美元。
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