NEW YORK (TheStreet) -- Shares of Boeing (BA) - Get Boeing Company Report were sliding on heavy trading volume mid-Thursday afternoon despite the company receiving an order for 14 747-8 cargo jets today from UPS (UPS) with the option for the parcel delivery company to buy an additional 14 planes.
The deal is worth $5.3 billion based on list prices and the planes will be delivered over a three-year period beginning in 2017, Bloomberg notes.
Starting in September, Boeing cut production of the 747-8 four-engine plane to six per year from 12 per year previously. The company said that it might end production of the jet altogether.
Additionally, yesterday the Chicago-based airplane manufacturer reported better-than-anticipated 2016 third quarter earnings and revenue and raised its outlook for the full year.
Credit Suisse raised its price target on Boeing stock to $152 from $148 today, reiterating a "neutral" following the report. The firm said Boeing's third quarter was "solid."
"We are somewhat concerned that margin targets are still optimistic," the firm said, adding that airplane traffic growth has declined in recent months.
More than 5.47 million shares of Boeing have traded hands so far today vs. the 30-day average of 3.43 million shares.
Separately, TheStreet Ratings objectively rated Boeing stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.
The company's strengths can be seen in multiple areas, such as its revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and generally higher debt management risk.
You can view the full analysis from the report here: BA