Boeing stock has been one of the worst performers and is nearing its Covid lows. But I think in the next 5-7 years the stock could be worth a lot more as a turn-around play. My cost basis is 145, so I am down on my position a decent amount, and it could definitely go lower before it recovers.
The company does not have a PE ratio at the moment, but the price to sales is below 1.5. It has a wide moat and is basically a duopoly with Airbus. The non-commercial aerospace and defense segment is still doing well. Even with new Covid concerns and a possible recession that hits many countries, air travel is expected to return close to normal in the next couple of years and the orders for new jets reflects this. The company is expected to return to profitability later this year or early next year.
I understand that a lot is not going well with the company at the moment. But it's not like it's some company with tons of competition or in a dying industry. It seems from a longterm valuation, approaching the 2020 Covid lows seems unjustified for the stock.
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