Boeing Co's stock took another beating on Tuesday as a raft of countries gr...
- Boeing Co’s stock took another beating on Tuesday as a raft of countries grounded its 737 MAX 8 aircraft, responding to a deadly crash in Ethiopia which has so far knocked $25 billion off the market value of the world’s largest planemaker.
Shares of U.S. airlines were broadly lower in midday trade, with the S&P 1500 airlines index off 1.5 percent. At least seven of the 24 analysts covering the stock have reviewed their ratings over the last two days, with two downgrades and one price target cut so far, according to Refinitiv data. The single-aisle 737, the world’s most-sold commercial aircraft, is central to Boeing’s future. The MAX line is the fastest-selling jetliner in the company’s history with more than 5,000 orders booked and a backlog valued at nearly $500 billion at list prices.
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