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Can Hormel Foods Sustain Its Momentum Once COVID-19 Is Gone?

6 years 1 month ago
Posting 13.5% share gains during the first seven months of the year, Hormel Foods (NYSE: HRL) is one of a cadre of consumer staples stocks riding the COVID-19 wave to increased profits and performance. While the 31% of its sales derived from foodservice took a hit from the pro

TikTok Ban Averted as Trump Approves Oracle Deal "in Concept"

6 years 1 month ago
The ban on video-sharing app TikTok that was to take effect midnight Sunday looks like it will now not happen, as President Trump says he has given his "blessing" to a deal that sees China's ByteDance sell a stake of the business to Oracle (NYSE: ORCL) and Walmart (NYSE: WMT).

How Conagra Improved Its Future Outlook Through the Pandemic

6 years 1 month ago
Century-old packaged foods company Conagra Brands (NYSE: CAG) saw its share prices collapse alongside the rest of the market as the COVID-19 pandemic erupted across the USA in March. However, as people responded to the coronavirus' spread by stockpiling staples, sales for the w

Kohl's Cuts Corporate Staff Again to Reduce Costs

6 years 1 month ago
Back in February, Kohl's (NYSE: KSS) announced that it was laying off 250 corporate employees in an effort to streamline its management, speed up decision making, and cut costs. Those moves were designed to bolster the retailer's efficiency and improve its competitiveness follow

2 Stocks I'd Avoid at All Costs

6 years 1 month ago
No matter the investing climate, there are always stocks to buy and hold for a long time. Of course, the opposite also holds true -- you should place certain companies on your list of stocks to avoid under any circumstances. There are a variety of reasons to take this strong ste

Southwest Airlines' Cash Burn Improves Again

6 years 1 month ago
Building and preserving a cash stockpile has been the name of the game for airlines ever since the COVID-19 pandemic caused air travel demand to crater earlier this year. Southwest Airlines (NYSE: LUV) has been at the top of the industry in that respect all along. On Wednesday,

Don’t Go Bargain Hunting on Boeing Stock Quite Yet, Says 5-Star Analyst

6 years 1 month ago

Boeing (BA) is once again in the headlines. A congressional report released on Wednesday has blamed BA along with the FAA (Federal Aviation Administration) for the design flaws behind the two fatal crashes of Boeing's grounded jetliner, the 737 Max.

The scathing verdict is the latest addition to Boeing’s 2020 woes. Following the pandemic’s onset, Boeing appeared on the verge of bankruptcy, only to pull back from the edge. The decimation of the airline industry, however, has seen cancelations on the deliveries of its commercial aircrafts. Add in a predictable yet still woeful Q2 earnings, and reports of 787 Dreamliner manufacturing issues and it all looks very grim for the A&D giant.

The Max findings come at a time when Boeing is nearing the completion of test flights to bring the jetliner back into circulation.

The recent conclusion of EASA (European Union Aviation Safety Agency) test flights paves the way for the JOEB (Joint Operations Evaluation Board) assessment by the FAA, EASA, Transport Canada, & Brazil.

Cowen analyst Cai Rumohr anticipates the process will take about four weeks. Following which, the FAA will examine all data with the possibility of certification around Thanksgiving and first deliveries before the end of the year.

Rumohr believes BA should be able to deliver most of the 450 inventoried MAXes by the end of 2021, although deliveries in 2022-23 “depend on traffic recovery and could be flat/down.”

So, is the time ripe for investors to start building a position in BA stock?

Not right now. The 5-star analyst says “there's no urgency to step back in,” and further said, “Increases in MAX and 787 inventories through 2020 should become a source of cash starting in mid-2021 as deliveries recover; but magnitude and timing of the delivery recovery is unclear. This could lead to further downward adjustment of production plans, limiting potential upside until a concrete delivery recovery is in focus.”

Accordingly, Rumohr reiterated a Market Perform on BA shares along with a $150 price target. The implication for investors? Downside of 7%. (To watch Rumohr’s track record, click here)

There is similar sentiment among Rumohr’s colleagues. Based on 7 Buys, 8 Holds and 3 Sells, BA has a Hold consensus rating. There’s more optimism about where the share price is heading, as the average price target hits $186.24, and suggests 15.5% of upside over the next 12 months. (See Boeing stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

This ETF Could Help Grow Your Retirement Account

6 years 1 month ago
Did you know there are roughly 7,000 exchange-traded funds (ETFs) available globally? If you're looking to add an ETF to your retirement account, you have an overwhelming range of choices -- from funds that track the S&P 500 to funds that are backed by actual gold reserves t

Is Chewy Stock a Buy?

6 years 1 month ago
Chewy (NYSE: CHWY), the largest pure-play online retailer of pet food and supplies in the U.S., is a strong business with a clear path to grow long term, but does that make the stock a buy?

4 Ways to Limit Taxes on Stock Gains and Dividends

6 years 1 month ago
You may not pay much attention to taxes within your brokerage account, as these costs are often hidden -- rarely does a broker have any line item for accrued tax or projected tax due. This makes it all the more important to know the major tax triggers within your investment acco
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