1 Wall Street Analyst Thinks Boeing Stock Is Going to $119. Is It a Sell?
Wells Fargo analyst Matthew Akers shocked the market this week when he dropped his price target on (NYSE: BA) to $119 (down from $185) and cut his rating to underweight from equalweight. The new target represents a 26% discount to the current price.
Should investors take Akers' update as valid and consider selling the stock?
An analysis of Akers' report suggests his reasoning is sound, and there are serious questions about Boeing's free cash flow (FCF). The company ended the second quarter with $57.9 billion in consolidated debt and only $12.6 billion in cash and marketable securities.
Source Fool.com