Boeing stock price forecast: Northcoast Research sees 15% downside
Boeing stock price forecast: Northcoast Research sees 15% downside Boeing, the world's largest aerospace company, has been facing a lot of challenges in recent years. From the grounding of its 737 MAX planes to the COVID-19 pandemic, the company has been struggling to maintain its position in the market. Now, Northcoast Research, a leading investment research firm, has predicted a 15% downside for Boeing's stock price. According to Northcoast Research, the main reason for the downside is the ongoing pandemic. The company's commercial aviation business has been hit hard by the pandemic, with airlines canceling orders and delaying deliveries. This has resulted in a significant drop in revenue for Boeing, which has already been struggling with the 737 MAX crisis. Northcoast Research also cited the ongoing trade tensions between the US and China as another reason for the downside. Boeing has a significant presence in China, and any further escalation of the trade war could have a negative impact on the company's business in the country. Despite these challenges, Boeing has been working hard to turn things around. The company has been focusing on improving its safety culture and regaining the trust of its customers. It has also been working on developing new products, such as the 777X and the 797, which could help boost its revenue in the future. However, Northcoast Research remains cautious about the company's prospects. The firm has given Boeing a "sell" rating and a price target of $150, which represents a 15% downside from its current price of around $177. Investors should take note of Northcoast Research's forecast and consider the risks associated with investing in Boeing. While the company has a strong brand and a long history of success, it is facing significant challenges that could impact its future performance. As always, it is important to do your own research and consult with a financial advisor before making any investment decisions.