Why Boeing Stock Is Falling Today
When it comes to Boeing (NYSE: BA), Credit Suisse sees the glass as half empty, and has initiated coverage of the aerospace giant with the bank's equivalent of a sell rating. Investors are taking note, sending shares of Boeing down as much as 3% in Wednesday trading.
Boeing has endured a difficult stretch, dealing first with issues with its 737 MAX and more recently with the effects of the pandemic. The company's total debt has ballooned by 400% in the last five years because of a drop in cash flow due to fewer deliveries to airlines.
Boeing is on the comeback trail, but has a long way to go. Credit Suisse analyst Scott Deuschle is advising investors not to jump in headfirst, initiating coverage on the stock with an underperform rating and assigning it a $98 price target. That target is one of the lowest among Wall Street analysts.
Source Fool.com
