Labor negotiations, defense cuts, 787 risks concern Wall Street
Herald staff
The Boeing Co.’s stock has dropped nearly 6.5 percent Thursday, just a day after company officials reaffirmed Boeing’s financial outlook.
An analyst from Cowen & Co. cut Boeing’s rating to neutral from outperform on Thursday forcing down Boeing’s stock by roughly $4.34 to $62.38. The analyst cited concerns over Boeing's commercial order exposure as well as risk to its defense programs. The broker also worried about the impact upcoming labor negotiations could have on Boeing. Ongoing risk with Boeing's 787 jet program factored into the analyst's downgrade as well.
