Shares of Boeing (NYSE:BA) are little changed today despite receiving an analyst downgrade. Kenneth Herbert of RBC (NYSE:RY) changed his rating from Buy to Hold while maintaining a price target of $225 per share.
Herbert is concerned about the supply chain, noting that hiring remains difficult. Although this issue should improve as macroeconomic headwinds slow the economy, companies would still need to use a lot of resources to simply train new employees. As a result of the supply chain, the chance of Boeing’s deliveries surprising to the upside will be limited.
Overall, Wall Street analysts have a consensus price target of $231 on BA stock, implying almost 10% upside potential, as indicated by the graphic above.
