Boeing shares rebound on Friday, Ann Toulouse, head of corporate communications, to retire

Boeing Co (BA) said last week that Ann Toulouse, its current head of corporate communications, would step down from her role and retire in 2020.

Toulouse, 61, is the second high-ranking female communications executive to leave the company.

Boeing announced earlier this month that Linda Mills, vice president of Communications for Boeing’s Commercial Airplanes unit, would also part ways with the plane maker.

Boeing shares closed higher for the fifth time in the past ten trading sessions in New York on Friday. It has also been the sharpest daily surge since November 14th. The stock went up 1.34% ($4.90) to $371.34, after touching an intraday high at $373.46, or a price level not seen since November 19th ($374.83).

Shares of Boeing Company have risen 15.14% so far in 2019 compared with a 24.07% gain for the benchmark index, S&P 500 (SPX).

In 2018, Boeing’s stock went up 9.36%, thus, it outperformed the S&P 500, which registered a 6.24% loss.

In September 2018, Ann Toulouse was appointed as interim senior vice president of Communications, who reports directly to Boeing’s CEO, Dennis Muilenburg.

”This past year has been all-consuming and profoundly difficult for all of us at Boeing – albeit nowhere close to the experience of the families affected by the MAX accidents,” Ann Toulouse said in a statement, cited by Reuters.

”As we look ahead, I am confident the hard lessons learned will make Boeing better and that we will deliver on our important commitments. As we move into that next phase, I can best serve the company by turning over the role to someone with fresh perspective and, therefore, made the difficult decision to retire,” she added.

Analyst stock price forecast and recommendation

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $400.00, with a high estimate of $521.00 and a low estimate of $324.00. The median estimate represents a 7.72% upside compared to the closing price of $371.34 on November 22nd.

The same media also reported that at least 11 out of 23 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while other 11 – as “Buy”.