EV - The Reasons Behind Today's Drop In Boeing Stock
Boeing ( NYSE:BA )
Credit Suisse is pessimistic about the future of Boeing ( NYSE:BA ). Therefore, the bank has begun coverage of the aerospace giant with a sell rating. Boeing stock fell as much as 3% on Wednesday due to the news.
What are the Reasons?
Recently, Boeing ( NYSE:BA ) has had a rough go with the 737 MAX problems and the pandemic. A decline in cash flow due to fewer deliveries to airlines has contributed to a 400% increase in the company’s overall debt over the last five years.
However, Boeing ( NYSE:BA ) still has a ways to go before it can be considered successful again. Credit Suisse analyst Scott Deuschle warns potential investors to tread carefully with an underperforming rating and a $98 price target on Boeing stock. Compared to projections from other Wall Street pros, that one is quite conservative.
According to Deuschle, aerospace is a “zero-sum game,” and Boeing’s company position is in the losing camp. He believes that ongoing tensions between the United States and China will have a negative impact on the firm’s sales and that Boeing ( NYSE:BA ) will have difficulties in its efforts to increase orders and cash flow.
After two deadly crashes involvin...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube