Boeing: stock crashes as analysts panic
(CercleFinance.com) - The Boeing stock is once again one of the sharpest fallers in the Dow Jones Industrial Average on Thursday morning, hurt by comments made by several analysts who are worried about the situation of the US aerospace giant.
At 10.45 am (New York time), the aircraft manufacturer's stock is still down nearly 15%, after already having plummeted 18% yesterday. It has now lost 53% of its value over the past month.
In a note released this morning, Canaccord Genuity analysts, who recommend investors "hold" the stock, say however that they have slashed their corresponding target price from 340 dollars to 225 dollars.
The Canadian broker is worried that, "The impact of the coronavirus on the airline industry has created a much murkier outlook for Boeing".
These concerns are corroborated by a recent Credit Suisse survey, which shows that 57% of its clients consider Boeing to be the aerospace group that is the "most vulnerable" to the Covid-19 crisis.
As for the company that is most likely to face cash problems, Boeing again wins the largest share of votes, with 34% of investors expecting this, Credit Suisse says.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
At 10.45 am (New York time), the aircraft manufacturer's stock is still down nearly 15%, after already having plummeted 18% yesterday. It has now lost 53% of its value over the past month.
In a note released this morning, Canaccord Genuity analysts, who recommend investors "hold" the stock, say however that they have slashed their corresponding target price from 340 dollars to 225 dollars.
The Canadian broker is worried that, "The impact of the coronavirus on the airline industry has created a much murkier outlook for Boeing".
These concerns are corroborated by a recent Credit Suisse survey, which shows that 57% of its clients consider Boeing to be the aerospace group that is the "most vulnerable" to the Covid-19 crisis.
As for the company that is most likely to face cash problems, Boeing again wins the largest share of votes, with 34% of investors expecting this, Credit Suisse says.
Copyright (c) 2020 CercleFinance.com. All rights reserved.