BofA/Merrill Lynch Downgrades Boeing (BA) to Neutral

BofA/Merrill Lynch downgraded Boeing (NYSE: BA) from Buy to Neutral with a price target of $140.00 (from $154.00) saying they expect the stock to be range-bound near term.

Analyst Ronald Epstein said they see limited upside for the stock as the peak in the cycle looms over the industry, while downside is limited due to near-term visibility in earnings.

The firm raised FY 2014 EPS from $7.55 to $8.10, FY 2015 EPS was cut from $8.35 to $8.00 and FY 2016 EPS was cut from $10.50 to $8.70.

For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.

Shares of Boeing closed at $126.71 yesterday.

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