Argus Downgrades Boeing (BA) to Hold Reluctantly, 'unique position in the U.S. economy and its impressive backlog of business.'

Argus analyst John Eade downgraded Boeing (NYSE: BA) from Buy to Hold.

The analyst comments "We think that BA shares are fairly valued at current prices around $173, below the midpoint of their 52-week range of $159-$267. From a technical standpoint, the shares have been in a bearish pattern of lower highs and lower lows since November 2023. To value the stock on a fundamental basis, we use peer and historical multiple comparisons, along with a dividend discount model. The models are now quite distorted, in light of Boeing's eliminated dividend, recent losses, and depressed forward earnings estimates. Given a lack of visibility into future earnings and cash flow growth, we think a current rating of HOLD is appropriate for the BA shares, despite the company's unique position in the U.S. economy and its impressive backlog of business."

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 $173.49 yesterday.

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