Boeing is downgraded by Wells Fargo

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Source: Dukascopy Bank SA


Wells Fargo has downgraded Boeing's stock. The stock has been downgraded to underweight with a price target of $119.00, which is 32% below the current price.

The bank has indicated that the bank's income of $10 billion might be delayed by two years. Moreover, Boeing is set to spend $30 billion on the development of a new aeroplane.

The news caused a more than 7.00% fall of the stock price. The stock has reached a one-and-a-half-year low level.
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