BofA/Merrill Lynch Downgrades Boeing (BA) to Neutral

(Updated - April 8, 2019 6:40 AM EDT)

(updated to add analyst comment)

BofA/Merrill Lynch analyst Ronald Epstein downgraded Boeing (NYSE: BA) from Buy to Neutral with a price target of $420.00 (from $480.00).

• Foresees 6-9 months of disruption to operations compared with 3-6 previously.
• Notes 737 accounts for 40 of EBIT, making it the most profitable program.
• Expects valuation to trade at historical 25% discount to the broader S&P 500 on a Price-to-Free Cash Flow basis.

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 $381.50 yesterday.

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