Troubled aerospace giant Boeing Co. ( BA ) reported a $6 billion third-quarter loss on Wednesday, the company's largest since 2020, amid an ongoing labor strike and a company-wide turnaround effort. Analysts weighed in on the company's issues and what is next for Boeing. 

The Details: BofA Securities analyst Ronald Epstein pointed to Boeing ( BA ) stock's muted reaction to the company's earnings report as capturing investor sentiments of "1) This is the bottom and 2) There are plenty more skeletons in the closet for Kelly [Ortberg] to find."

The research firm said the most critical first step to make Boeing ( BA ) "great again" is ending the labor strike. The firm estimates the strike is costing Boeing ( BA ) approximately $50 million a day due to the halt in production and said a strike lasting 58 days would result in a financial impact of nearly $3 billion to the company. 

BofA analysts also see shoring up the balance sheet as key to Boeing's ( BA ) return to glory and now expects the company to raise between $18 billion and $20 billion through its recent mixed shelf offering. 

Boeing ( BA ) reported it is considering divesting non-core assets which BofA views as a good step towards the company reducing debt and strengthening its balance sheet. 

"We see this as a positive not only for offsetting cash-burn but for Boeing ( BA ) to refocus while transforming," the analyst wrote. 

BofA Securities maintained its Neutral rating and $170 price target on Boeing ( BA ) shares. 

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RBC Capital Markets analyst Ken Herbert pointed to Boeing's ( BA ) 2025 negative free cash flow forecast as the focus of the earnings call. The RBC analyst adjusted the firm's estimate to approximately negative $8 billion in 2025 and negative $2.6 billion in 2026 as Boeing ( BA ) indicated a return to positive free cash flow in the second half of 2026. 

Herbert noted CEO Ortberg's initial public comments were "very cautious" during Boeing's ( BA ) earnings call and expressed concerns that investors were looking for more clarity and specific timelines for a return to pre-strike production levels. However, the analyst said he remains optimistic Ortberg can right the ship at Boeing. 

RBC Capital reiterated its Outperform rating and $200 price target on Boeing ( BA ). 

BA Price Action: According to Benzinga Pro, Boeing ( BA ) shares ended Thursday’s session 1.18% lower at $155.20.

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