The year-to-date decline in shares of Boeing Co (NYSE: BA) is an opportunity to buy a quality name at a deep discount, says a Deutsche Bank analyst.

Scott Deuschle reiterated his “buy” rating on the aerospace giant this morning. He did, however, trim his price objective to $240 which nonetheless suggests close to a 30% upside from here.

The analyst lowered his price target on Boeing stock today primarily due to the ongoing operational and regulatory hurdles that he warns could result in a significant blow to the company’s free cash flow.

Deuschle’s bullish call arrives only a day after $BA was reported considering cutting Spirit AeroSystems’ ties with rival Airbus.

Boeing shares are currently down roughly 25% versus the start of 2024.

Scott Deuschle also expects the ongoing challenges of Boeing Co to result in a hit to its per-share earnings this year through 2027.

The Deutsche Bank analyst cited several downside risks that could weigh on Boeing stock moving forward including further delay in deliveries, additional charges in its defense, space, and security business, and delay in aircraft certification.

$BA did narrow its loss further in its fiscal fourth quarter but cited continued struggles as it refrained from offering guidance for the future in late January as Invezz reported here.

Note that Boeing shares do not currently pay a dividend yield.

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