Boeing: Berenberg downgrades to Sell
(CercleFinance.com) - Berenberg announced on Thursday that it has downgraded its recommendation on Boeing from "hold" to "sell" following the stock's significant recovery in recent weeks.
The German broker - which maintains its target price of 150 dollars for the share - believes that the valuation of the American aeronautics giant's share incorporates too much optimism, with the company set to announce poor Q2 results next month.
Berenberg also cites operational difficulties that have not yet been resolved, as well as debt levels that are considered particularly high.
It hence recommends investors take their profits.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The German broker - which maintains its target price of 150 dollars for the share - believes that the valuation of the American aeronautics giant's share incorporates too much optimism, with the company set to announce poor Q2 results next month.
Berenberg also cites operational difficulties that have not yet been resolved, as well as debt levels that are considered particularly high.
It hence recommends investors take their profits.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.