Boeing Shares Drop to 52-Week Low Amid MAX 737 Troubles

   By Stephen Nakrosis

Shares of Boeing Co. (BA) touched a 52-week low Wednesday as the aircraft maker continues to deal with problems stemming from its 737 MAX jetliner.

At 12:57 p.m. EST, the company's shares had fallen 2.62% to trade at $305.14. Earlier in the session, they touched a 52-week low of $302.72 before regaining some ground.

Volume topped 9.3 million shares, above the 65-day average volume of 5.9 million. Boeing shares have finished lower in the previous three sessions, and are down over 6% year to date.

Also on Wednesday, Vertical Research cuts its recommendation on Boeing's stock to hold from buy, and cut its price target on the stock to $294 per share from $388, as reported by Benzinga. Credit Suisse also cuts its price target on the stock to $321 from $324.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 22, 2020 13:23 ET (18:23 GMT)

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