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.
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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.