Street Uses Boeing Downgrade As Buying Opportunity

Boeing Co BA shares are trading lower by $0.60 at $178.10 in Monday's session. At this time, the Street is viewing the downgrade at Morgan Stanley from Overweight to Equal-Weight as a buying opportunity.

After trading lower in each of its last three sessions (falling from its March 7 close $182.02 to $178.70), the issue responded to the downgrade with a lower open.

However, it declined only $0.09 to $177.07 before staging a rebound that peaked at $178.45. The current low comes in just below its February 27 low ($177.55) and nearly $1.00 above its February 24 at $176.10.

Despite the recent decline, the issue isn't far off its all-time high that was made on March 2 ($185.71) and its all-time closing high from March 1 at $182.99.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!