BA - Why Is Boeing (BA) Stock On The Move Today?
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Boeing (NYSE:BA) stock is on the move Tuesday after the company received a downgrade from Morgan Stanley.
Morgan Stanley analyst Kristine Liwag is behind today’s news. This saw her dropping the company’s stock from an “overweight” rating to an “equal weight” rating. For the record, the analysts’ consensus rating for BA is “moderate buy” based on 18 analysts’ opinions.
Despite downgrading BA stock, the Morgan Stanley analyst increased her price target from $213 to $220 per share. That’s a potential 5.5% upside for the stock. For comparison, the analysts’ consensus price estimate for BA shares is $216.18 each.
What’s Behind the New BA Stock Rating
Liwag said the following about BA stock in a note to clients obtained by CNBC.
“We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized. Going forward, we expect Boeing to trade on execution of its 2025/2026 aircraft production rate targets and free cash flow generation.”
BA stock has been on the move Tuesday following the analyst’s downgrade. Initially, shares of jet maker’s stock were down in trading this morning. However, the stock has since recovered and is currently up slightly as of this writing.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace is serving up all of the hottest stock market coverage traders need to know about on Tuesday! Among that is what has shares of Virgin Orbit (NASDAQ:VORB) stock falling, why Bed Bath & Beyond (NASDAQ:BBBY) stock is rising, as well as the latest news on Virgin Galactic (NYSE:SPCE) stock. You can catch up on all that news at the links below!
More Tuesday Stock Market News
- Virgin Orbit (VORB) Stock Plunges 20% on Rocket Failure
- Bed Bath & Beyond (BBBY) Stock Surges on Takeover Interest
- Why Is Virgin Galactic (SPCE) Stock Down Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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