Wells Fargo & Company Issues Pessimistic Forecast for Boeing (NYSE:BA) Stock Price

Boeing (NYSE:BA) had its price target cut by investment analysts at Wells Fargo & Company from $250.00 to $210.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the aircraft producer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 26.53% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 price target on shares of Boeing in a research note on Monday. Cantor Fitzgerald lowered shares of Boeing to a “neutral” rating in a research report on Tuesday, August 11th. Citigroup downgraded shares of Boeing from a “buy” rating to a “sell” rating in a research note on Tuesday, August 11th. Rothschild & Co Redburn raised their target price on shares of Boeing from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, BNP Paribas Exane raised shares of Boeing from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $230.00 to $300.00 in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Boeing presently has a consensus rating of “Moderate Buy” and an average target price of $253.65.

Boeing Stock Down 1.3%

Shares of NYSE BA traded down $2.21 on Wednesday, hitting $165.97. The company’s stock had a trading volume of 4,061,593 shares, compared to its average volume of 6,986,920. The stock has a 50 day moving average of $199.09 and a 200-day moving average of $218.16. Boeing has a 12-month low of $165.14 and a 12-month high of $254.35.

Boeing (NYSE:BA) last issued its quarterly earnings data on Tuesday, October 27th. The aircraft producer reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.09). The firm had revenue of $24.19 billion for the quarter, compared to analyst estimates of $23.95 billion. During the same period last year, the business posted ($7.47) earnings per share. Boeing’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Boeing will post -1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

A number of institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in shares of Boeing in the second quarter worth $911,878,000. Bank of New York Mellon Corp acquired a new position in shares of Boeing during the 2nd quarter valued at $747,763,000. Legal & General Group Plc acquired a new position in shares of Boeing during the 2nd quarter valued at $710,816,000. Deutsche Bank AG acquired a new position in shares of Boeing during the 2nd quarter valued at $539,456,000. Finally, Swiss National Bank boosted its position in Boeing by 7.6% during the 1st quarter. Swiss National Bank now owns 2,298,077 shares of the aircraft producer’s stock worth $457,386,000 after purchasing an additional 163,000 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing News Roundup

Here are the key news stories impacting Boeing this week:

• Positive Sentiment: Boeing reported revenue of $24.19 billion, up 3.9% year over year, while its net loss narrowed substantially from the prior-year period. Operating cash flow reached $1.5 billion and free cash flow was positive for a second consecutive quarter. Boeing Reports Third Quarter Results
• Positive Sentiment: Total backlog increased to a record $745 billion, including more than 6,300 commercial aircraft. Boeing also received FAA certification milestones for the 737-7 and 737-10 and was selected for the U.S. Navy’s F/A-XX fighter program. Boeing Reports Third Quarter Revenue and Net Loss
• Positive Sentiment: Several analysts remain constructive on Boeing’s long-term recovery. Langenberg upgraded the stock to Buy with a $250 target, while Citi maintained a Buy rating with a $260 target; Susquehanna and Baird also retained positive ratings despite reducing their targets. Analyst Upgrades Boeing
• Positive Sentiment: Boeing forecasts that global air-cargo traffic will double by 2045, potentially requiring nearly 3,000 new or converted freighters and supporting long-term demand for its cargo aircraft. Boeing Global Freighter Fleet Forecast
• Neutral Sentiment: Boeing’s CFO expects 787 margins to exceed 2018 levels by 2029, but 737 margins are expected to recover more slowly and remain below historical peaks. Boeing Margin Outlook
• Negative Sentiment: Adjusted EPS was a $0.34 loss, worse than the expected $0.25 loss. The Commercial Airplanes division posted a $697 million operating loss, highlighting continuing cost and production problems. Boeing Jetliner Production Challenges
• Negative Sentiment: Boeing pushed its 737 production ramp to 2027, with the 52-aircraft-per-month target delayed until the second half of that year. The company also indicated that its $3 billion free-cash-flow milestone has shifted to 2027, increasing uncertainty around the turnaround timeline. Boeing 737 Ramp Delay
• Negative Sentiment: Boeing halted share buybacks during the third quarter to preserve liquidity, while a law firm announced an investigation related to the Spirit AeroSystems merger, adding further pressure to sentiment. Boeing Halts Share Buybacks

About Boeing

The Boeing Company (NYSE: BA) is a global aerospace company that designs, manufactures and supports commercial airplanes, military aircraft, satellites, space systems and related products and services. Its offerings serve airlines, government agencies, defense organizations and other customers worldwide.

Boeing operates through three principal business areas: Commercial Airplanes, which develops and produces passenger and cargo aircraft; Defense, Space & Security, which provides military aircraft, weapons systems, satellites and space-related platforms; and Global Services, which offers parts, maintenance, training, engineering and other lifecycle support.

Founded in 1916 by William Boeing, the company has grown into one of the world’s major aerospace manufacturers.