Buy any Boeing pullback in first earnings since 737 Max crisis, market watcher says

div > div.group > p:first-child"> Its earnings report, out before the bell Wednesday, is the first since the company was forced to ground its 737 Max fleet in mid-March following two fatal plane crashes within six months. Its shares remain 16% below a record set on March 1.

"We invest in companies that have a good strong growth story that are reasonably priced, and Boeing definitely fits that criteria as a long-term play," Tepper said on CNBC's"Trading Nation" on Tuesday."This is a stock we want to hold. We love their business mix — over 20% is defense. They're in a dominant position. We don't think the airlines are going to switch to Airbus, so we'd be buyers on a pullback.

Free cash flow is expected to have fallen 52% year over year in its March-ended quarter, according to analysts surveyed by FactSet. Quarterly free cash flow for the three months to June is estimated to fall 96%.

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