Boeing: Berenberg slashes price target by more than half

(CercleFinance.com) - Berenberg on Tuesday cut its price target on Boeing by more than 50%, from 350 dollars to 150 dollars, while maintaining a "hold" rating on the share.


The move comes after the US planemaker suspended its core operations in Puget Sound indefinitely, and after aircraft lessor Avolon cancelled orders for 75 737 MAXs.

"With a new base case of materially lower build rates, our scenario suggests cash valuations are attractive from 2022, but we are still far from comfortable recommending the stock until the outlook is more certain," the German broker wrote in a note.

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