With its 4-star rating, we believe Boeing's stock is undervalued compared with our long-term fair value estimate of $221 per share, representing an equity value 33 times our 2025 adjusted EBITDA estimate and 2 times our 2025 sales estimate.

TD Cowen's latest note suggests that while Boeing (NYSE:BA) may face a challenging second quarter, a strong recovery is anticipated in the latter half of the year. Boeing's productivity enhancements are expected to drive a substantial increase in free cash flow (FCF) to $10 billion by 2026.

The company reported revenue of $16.6 billion and an adjusted loss of $1.13 per share, compared to the consensus estimates of $16.2 billion in sales and a loss per share of $1.76. Although there are near-term headwinds for the company stemming from the ongoing 737 MAX issues, we believe BA stock remains undervalued.

As of 2024-05-09, the Fair Value of Boeing Co (BA) is -17.52 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 180.35 USD, the upside of Boeing Co is -109.7%. Note: valuation result may not be accurate due to the company's negative EPS.