www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Americas

Boeing stock drops after downgrade

By SCOTT REEVES in New York | China Daily Global | Updated: 2019-04-10 00:39
Share
Share - WeChat
A Boeing 737 MAX 9 airplane at the Boeing factory in Renton, Washington on March 7, 2017. [Photo/VCG]

Bank of America Merrill Lynch on Monday downgraded Boeing's stock to "neutral" from "buy" and cut its price target to $420 a share from $480 after the crash of two MAX jets six months apart.

The downgrade sent the aircraft manufacturer's stock down on the New York Stock Exchange. It closed at $374.68 a share, down $17.25, or 4.4 percent, from Friday's close. The 52-week range is $292.47 to $446.01 a share.

The downgrade followed Boeing's announcement on April 3 that it planned to cut production of 737 MAX jets to 42 a month from 52 starting in mid-April, a reduction of nearly 20 percent.

The investment bank now estimates delays in returning the aircraft to service will last six to nine months rather than the originally estimated three to six months.

"The reputational loss from these events could erode long-term market share and pricing power of the 737 MAX," Bank of America Merrill Lynch analyst Ronald Epstein said in a research report. "A six-month delay also means lower margins due to penalties owed to customers, weaker negotiating position with airlines as airlines consider cancellations, and operational inefficiencies from the production disruption."

MAX jets are Boeing's most profitable line and account for about 40 percent of its earnings, the analyst said.

The price target is an analyst's assessment of a stock's fair value. It is based on projected and historical earnings as well as events that may affect current and future share price. The price target is frequently published with buy, sell or hold recommendations.

The downgrade of Boeing's stock follows the crashes of Ethiopian Airline Flight 302 on March 10 and Lion Air Flight 610 on Oct 29, 2018. A total of 346 passengers and crew died in the crashes. Critics have raised questions about oversight provided by the US Federal Aviation Administration and its decision to certify the 737 MAX safe for commercial use.

On March 13, Boeing 737 MAX jets were grounded indefinitely in the United States after nations around the world, including China, pulled the planes from commercial flights.

The cause of the two crashes has not yet been determined. Boeing said a malfunctioning sensor may be the cause of the crashes. Dennis Muilenburg, Boeing's CEO, said: "It's our responsibility to eliminate this risk. We own it, and we know how to do it."

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 欧美日韩亚洲另类 | 欧美精品在线免费观看 | 国产91精品久久久久久久 | 国产成人女人在线视频观看 | 手机看片自拍日韩日韩高清 | 欧美一级一片 | 久久不雅视频 | 久久久亚洲欧洲日产国码二区 | 国产毛片一级国语版 | 真实国产乱子伦高清 | 国产99视频精品免费视频7 | 中文字幕一区二区三区在线观看 | 国产一区二区三区免费 | 亚洲国产欧洲精品路线久久 | 亚洲视频免 | 国产日本一区二区三区 | 国产午夜免费视频 | 日美三级 | 久久r这里只有精品 | 欧美特黄一级 | 在线欧美自拍 | 亚洲欧美成人综合在线 | 久久久久成人精品一区二区 | 台湾50部三级 | 男人天堂怡红院 | 欧美国产高清 | 日韩精品一区二区三区 在线观看 | 精品一区二区三区波多野结衣 | 国产性生活视频 | 久久福利青草精品免费 | 女人扒开腿让男人捅啪啪 | 天天五月天丁香婷婷深爱综合 | 秋霞手机入口二日韩区 | 伊人成人在线视频 | 免费a级毛片网站 | 91日本在线观看亚洲精品 | 亚洲国产欧美在线人成精品一区二区 | 美女被躁免费视频软件 | 亚洲精品国产第一区第二区国 | 天码毛片一区二区三区入口 | avhd101天天看新片 |