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December 20, 2023 2:13 PM EST
Morgan Stanley describes the COVID-19 lockdowns as the worst exogenous shock in the history of aviation. However, as the Aerospace sector recovers in 2023, global air traffic is back to ~98% of pre-COVID-19 levels.
That being said, total aircraft deliveries from OEMs, such as Boeing (NYSE: BA) and Airbus, are only expected to be ~77% of 2018 levels.
Our view is that Aerospace is an Attractive sector in 2024, but we are more selective on stocks due to valuation, capital return potential, and execution risks. Our top Aerospace pick is OW-Howmet (HWM), Morgan Stanley analysts wrote in a... More
December 20, 2023 9:58 AM EST
Paramount Global (NASDAQ: PARA) was lifted to Equal-Weight from Underweight at Wells Fargo on Wednesday, with analyst Steven Cahall raising the stock price target to $18 from $15 per share.
Cahall said the firm is upgrading the stock as they see an increased... More
