Why Is Boeing (BA) Stock On The Move Today?

  • Boeing (BA) stock was just hit with a downgrade from Morgan Stanley.
  • However, the firm also increased its price target for Boeing shares.
  • This has BA stock up slightly after a dip this morning.
BA Stock. Boeing plane flying through clouds and sky with "Boeing" and "787" written on the plane

Source: vaalaa / Shutterstock

Boeing (NYSE:BA) stock is on the move Tuesday after the company received a downgrade from Morgan Stanley.

Morgan Stanley analyst Kristine Liwag is behind today’s news. The analyst dropped BA stock from an “overweight” rating to an “equal weight” rating. For the record, the consensus rating for BA is a “moderate buy” based on 18 analysts.

Despite downgrading BA stock, the Morgan Stanley analyst did increase her price target from $213 to $220 per share, however. That’s a potential 5% upside for the stock from yesterday’s close, according to CNBC. For comparison, the analyst consensus price estimate for shares is $216.18 each.

What’s Behind the New BA Stock Rating

Analyst Kristine Liwag said the following about BA stock in a note to clients obtained by CNBC.

“We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized […] Going forward, we expect Boeing to trade on execution of its 2025/2026 aircraft production rate targets and free cash flow generation.”

BA stock has been on the move Tuesday following the analyst downgrade. Initially, shares were down in trading this morning. However, the stock has since recovered and is currently up slightly as of this writing.

Investors seeking out more of the latest stock market news will want to stick around!

InvestorPlace is serving up all of the hottest stock market coverage traders need to know about on Tuesday! Among that is what has shares of Virgin Orbit (NASDAQ:VORB) stock falling, why Bed Bath & Beyond (NASDAQ:BBBY) stock is rising, as well as the latest news on Virgin Galactic (NYSE:SPCE) stock. You can catch up on all that news at the links below!

More Tuesday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/01/why-is-boeing-ba-stock-down-today-jan-10/.

©2023 InvestorPlace Media, LLC