Friday December 21, 06:32 PM
Boeing "sell," target price reduced - update
NEW YORK, December 21 (newratings.com) - Analysts at UBS (Virt-X: UBSN.VX - news) maintain their "sell" rating on Boeing (ticker: BA), while
reducing their estimates for the company. The target price has been reduced from $95 to $87.
In a research note published this morning, the analysts mention that although the company's share price has declined by nearly 20%, a better entry point can be expected in the forthcoming months. Boeing (NYSE: BA - news) is likely to significantly reduce its production expectations for 787, the analysts say. The consensus expectations for 787 deliveries and Boeing's EPS growth appear aggressive, UBS adds. The EPS estimate for FY09 has been reduced by $0.20 to reflect fewer 787 deliveries and a lower y/y decline in R&D.
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