Zacks Analyst Interview Highlights: Boeing, Goodrich and Precision Castparts

CHICAGO--Zacks.com releases the latest Analyst Interview. Today's interview is with senior market analyst Charles Rotblut, who discusses Boeing (NYSE: BA), Goodrich (NYSE: GR) and Precision Castparts (NYSE: PCP).

A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678.

Are you still looking for a market rally late this year from current levels, or do you foresee a pullback of some sort, first?

I think right now we could see some short-term bumps in the road, but seasonally it's a good time to be in the markets. Historically, buying in October and selling in March has generated some pretty nice returns for investors. And I think if what we saw [Thursday] is indicative of what we'll see throughout the rest of earnings season, I think we will see the markets rally higher. I said, earlier this year that the S&P 500 could hit 1600. I still think that's possible.

The one caveat should be aerospace, simply because we have had news out of Boeing (NYSE: BA) coming out and saying that they're delaying production on their new 787 Dreamliner jet. They did hold their earnings estimates stable, saying this is not going to affect earnings. The question is, they've had problems getting fasteners and other parts. And if we look at some of the other aerospace companies - Goodrich (NYSE: GR), Precision Castparts (NYSE: PCP) - I'm not saying they are particularly supplying parts to the new Dreamliner, but it does raise a bit of a question.

And the reason I bring that up is that has been a sector where we have seen estimates continuously being revised upwards, and we will kind of see what their numbers are like - and, more importantly, what their guidance is like - and, really, what kind of impact Boeing's push-back on the release of the 787 is going to have on overall sector earnings, whether it's a temporary blip, one that really won't affect guidance, or whether it will have an actual impact. And we don't know - we really have to see what comes out of these conference calls.

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