Goldman Sachs Downgrades Boeing (BA) to Neutral

March 21, 2014 6:42 AM EDT
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Price: $159.53 +0.33%

Rating Summary:
    14 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs downgraded Boeing (NYSE: BA) from Buy to Neutral with a price target of $134.00 (from $155.00).

"We believe investors in Aerospace should seek to obtain less exposure to Original Equipment and more exposure to aftermarket," analyst Noah Poponak said. " We continue to believe in long- term growth in commercial aircraft demand. But the current cycle has now driven Boeing to produce 2X the amount of aircraft in did in 2008, making incremental growth in the medium-term difficult. We also still hold a positive view of the substantial free cash flow generation potential of Boeing as it ramps the 787. However, expectations for both the legacy OE cycle and the 787 program appear elevated."

For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.

Shares of Boeing closed at $123.73 yesterday.

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