Goldman Sachs names Boeing its top aerospace pick, says orders should grow as air travel rebounds
A resurgence in air travel, and the need for new aircraft to meet growing demand, should benefit Boeing into the new year, according to Goldman Sachs. Analyst Noah Poponak named the aircraft maker and defense contractor a top pick in the aerospace industry heading into 2023, saying in a note to clients Wednesday that Boeing will see expanded order books as air traffic rebounds.
Supply constraints persist, but those issues could bode well for some makers by creating a "tight supply/demand balance that supports long-term growth in production rates," he wrote. Boeing should also benefit from normalization in free cash flows within the $20-a-share range by the middle of the decade, according to Poponak.
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