Boeing downgraded as analyst forecasts 'disaster' quarter
Boeing Co. shares BA, -3.33% were downgraded to hold from buy by Vertical Research Partners on Wednesday, after the aerospace giant said it does not expect its 737 Max fleet to resume flying until mid-2020, much later than previously expected. "While yet another push out in the estimated return to service of the MAX is bad enough, the ramifications of this have yet to reverberate," analysts Robert Stallard and Karl Oehlschlaeger wrote in a note to clients.
" Troubles with the Max, which has been grounded since two fatal crashes thought to be related to Boeing's MCAS system, are not the only challenges facing the company, said the note. The Max is inferior to Airbus' A320 NEO, the 787 rate is "arguably too high" and the 777x is facing development and demand challenges, said the note.
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