UPDATE - Nomura Securities Initiates Coverage on Boeing (BA) with a Reduce

UPDATE - Nomura Securities initiates coverage on Boeing (NYSE: BA) with a Reduce. PT $66.

Analyst, Jason Adams, said, "While the company’s top-line growth outlook is good and we see new aircraft demand as strong, the transition from top-line growth to cash earnings is less clear. We think Boeing will have difficulty maintaining its market share and believe the market is under-appreciating the risks. We argue that the implied multiple the market is paying for Boeing’s commercial exposure (23.6x P/E) is a 40% premium to the US Commercial Aerospace sub-sector. With the continued risks associated with the 787, we think this is too high."

To see all upgrades/downgrades on shares of BA, visit our Analyst Ratings page.

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