Boeing (BA) - Get Boeing Company Report may have topped earnings expectations this last quarter, but analysts weren't that impressed with the beat, and Goldman Sachs has reiterated its "sell" rating on the aerospace company.
The firm called the company a "difficult cyclical to own," Barron's noted.
The 2017 first quarter "was mixed for Boeing. Segment EBIT missed in both segments. Part of that was tanker, which isn't quite core to the commercial business, but tanker continues to negatively impact financials," the firm said in a note.
"Boeing's Defense revenue continues to under-grow the industry. Commercial unit book-to-bill was better than expected in 1Q, but was all narrowbody, driving dollar book-to-bill again below 1.0X, and we continue to see downside risk to expectations on the 777 and 787 on the widebody side," Goldman said.
Shares of Boeing were up slightly on Thursday morning.
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