Is Boeing (BA) Still Undervalued After Its Recent Share Price Rebound?

Boeing (BA) shares have been grinding higher recently, and the move has investors asking whether this is just a relief rally or the start of a more durable recovery in the aerospace cycle.

See our latest analysis for Boeing.

At a latest share price of $206.27, Boeing’s recent 7 day share price return of 10.62 percent and 1 year total shareholder return of 31.35 percent suggest momentum is rebuilding after a softer 90 day share price return of negative 10.13 percent.

If Boeing’s rebound has you rethinking aerospace exposure, it could be worth exploring other aerospace and defense stocks that might offer different mixes of growth, resilience, and valuation.

With the stock still trading at a discount to analyst targets but facing lingering execution and balance sheet risks, the key question now is whether Boeing is genuinely undervalued or if markets are already pricing in the next phase of growth.

Most Popular Narrative: 15.8% Undervalued

Compared with Boeing’s last close of $206.27, the most followed narrative implies a meaningfully higher fair value, built on a sharp earnings recovery and richer future multiple.

In order for the above numbers to justify the analysts price target, the company would need to trade at a PE ratio of 40.9x on those 2028 earnings, up from -16.1x today. This future PE is greater than the current PE for the GB Aerospace & Defense industry at 34.4x.

Read the complete narrative.

Curious what kind of revenue ramp, margin rebuild, and earnings swing could justify a premium multiple in a cyclical manufacturer? Want to see the full playbook behind that upgrade from deep losses to robust profitability, and how aggressively cash flows are projected to scale? The narrative lays out a detailed glide path that links growth assumptions, margin repair, and valuation in one model driven roadmap.

Result: Fair Value of $245 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent certification delays on key 737 variants and heavy debt burdens could easily derail margin recovery and force a rethink on long-term upside.

Find out about the key risks to this Boeing narrative.

Build Your Own Boeing Narrative

If the assumptions above do not fully align with your view, you can quickly dig into the numbers yourself and shape a custom thesis: Do it your way.

A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Boeing.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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