Report
Danny Goode
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Boeing Suffers Second MAX Cancellation, but We Remain Confident in Plane's Return to Service

We’re maintaining our $335 fair value estimate for wide-moat Boeing after Saudia’s low-cost subsidiary, Flyadeal, canceled its 737 MAX order for 50 aircraft (30 committed orders and 20 optional). The budget carrier was set to become an all-Boeing operator after it struck a deal to replace its Airbus aircraft in late 2018. Instead, its cancellation will erase $5.9 billion from Boeing’s order backlog and Flyadeal will expand its current fleet of A320neos. After Indonesia’s national carrier cancele...
Underlying
BOEING COMPANY (THE)

The Boeing is an aerospace firm. The company's segments include: Commercial Airplanes, which develops, produces and markets commercial jet aircraft and provides fleet support services, mainly to the commercial airline industry; Defense, Space and Security, which engages in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for strike, surveillance and mobility, vertical lift, and commercial derivative aircraft; Global Services, which provides supply chain and logistics management, pilot and maintenance training systems and services, and data analytics and digital services; and Boeing Capital, which manages overall financing exposure.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Danny Goode

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