Deutsche Banc Alex. Brown
today said it is downgrading
to buy from strong buy.
report of the downgrade said Boeing has already met analyst Chris Mecray's price target.
Boeing closed Wednesday at $57.81, just under its 52-week high of $58.63. It had traded as low as $32.38 earlier in the year.
Boeing rival Airbus Industrie today said it expects airlines to cut back orders over the next two to three years due to a significant growth in the average airliner size. "Average aircraft size will grow from the current 179 seats to 217 seats in 2019," Airbus said in an annual global market forecast.
John Leahy, Airbus' commercial director, predicted that although Airbus and Boeing will see above average annual demand this year, continued growth will slow down. "I think you will see a little bit of a down market for two or three years,'' Leahy said.