Boeing Stock On Retail’s Radar After Jeju Air Crash

Retail sentiment on the stock turned ‘extremely bearish’ from ‘bearish’

Shares of Boeing ($BA) were on retail watch following the South Korea air crash of a Jeju Air Flight 2216 on Sunday that killed at least 179 people after the reported failure of its landing gear.

The FLight 2216 was reportedly a Boeing 737-800 plane model that is widely used by many airlines across the world.  About 15% of passenger planes in service globally are Boeing 737-800 across nearly 200 airlines, Mint reported citing Cirium, an aviation data provider.

Retail sentiment on the stock turned ‘extremely bearish’ from ‘bearish’ a week ago. Message volumes climbed into the ‘extremely high’ zone from low.

Earlier this month, Boeing stock received a couple of price target upgrades: Morgan Stanley raised its price target to $175 from $170 with an ‘Equal Weight’ rating, according to The Fly.

TD Cowen also raised its price target to $200 from $190 with a ‘Buy’ rating on the shares following a transfer of coverage.

Boeing stock is down 28% year-to-date. 

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