What's Going On With Boeing Stock Today?

Boeing Co BA shares are trading lower Tuesday following a downgrade from Morgan Stanley.

What Happened: Morgan Stanley downgraded Boeing from Overweight to Equal-Weight and raised the price target from $213 to $220, citing valuation concerns following the stock's recent outperformance.

Boeing shares are up more than 50% over the last three months, according to Benzinga Pro.

Moving forward, Morgan Stanley expects Boeing to trade on execution of its 2025/2026 aircraft production rate targets and free cash flow generation.

"Despite the strong demand for aircraft, we see the supply chain as a bottleneck for further production/delivery increases, which is the key milestone for cash generation," Morgan Stanley analysts wrote in a new note to clients. 

Furthermore, the analysts believe most of the near-term catalysts are behind Boeing. Following a catalyst-rich period in 2021 and 2022, Morgan Stanley believes Boeing is now trading around fair value. 

Morgan Stanley put a bull case target of $317 on Boeing shares and a bear case target of $123 on the stock.

Check This Out: Here's How Much You Would Have Made Owning Boeing Stock In The Last 20 Years

BA Price Action: Boeing has a 52-week high of $229.67 and a 52-week low of $113.02.

The stock was down 2.21% at $203.97 at time of publication, according to Benzinga Pro.

Photo: courtesy of Boeing.