Boeing Stock On Retail’s Radar After Jeju Air Crash

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

Boeing Stock On Retail’s Radar After Jeju Air Crash

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.

Screenshot 2024-12-30 at 9.35.33 AM.png  BA sentiment meter and message volumes on Dec 29 as of 11:05 pm ET



 

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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