Boeing shares are trading lower after Wells Fargo downgraded the stock from Overweight to Equal-Weight and lowered its price target from $280 to $225.
Portfolio Pulse from Benzinga Newsdesk
Boeing's stock (BA) trades lower following a downgrade by Wells Fargo from Overweight to Equal-Weight and a reduction in the price target from $280 to $225.
January 16, 2024 | 2:15 pm
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NEGATIVE IMPACT
Boeing's stock price is likely to experience downward pressure in the short term due to the downgrade by Wells Fargo and the lowered price target.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The substantial decrease in the price target from $280 to $225 by a major financial institution like Wells Fargo can further erode investor confidence and lead to short-term price declines.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100