Boeing Catches an Upgrade (NYSE:BA)
The Boeing Company (NYSE:BA) shares have dropped 10% since late April, but today Societe Generale showed some love for the company by upgrading the stock.
Boeing (NYSE:BA) upgraded two notches to Hold from Sell at Societe Generale. In the past 52-weeks, shares of Boeing have traded between a low of $41.43 and a high of $76 and are now at $67.32, which is 62.5% above that low price.
Boeing is currently above its 50-day moving average (MA) of $64.76 and above its 200-day MA of $62.18. In the last five trading sessions, the 50-day MA has fallen 0.5% while the 200-day MA has risen 0.63%.
Yesterday Boeing reported its second-quarter profit fell 21% to $787 million, or $1.06 a share, from $998 million, or $1.41 a share, in the year-ago period. Revenue fell 9% to $15.57 billion from $17.15 billion. Analysts polled by FactSet Research were looking for earnings of $1.04 a share, on average, with sales of $16.4 billion. The company reaffirmed its full-year guidance of $3.50 to $3.80 a share, versus the Wall Street expectation of $3.88 a share.