Boeing Falls as Analyst Deems 787 Cost Recoup `Unachievable'
- Options include taking a charge on jet, Bank of America says
- Sees profit of $16 million a plane versus $30 million needed
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Boeing Co. tumbled after an analyst downgraded the stock to “underperform” and said the U.S. planemaker stood little chance of fully recovering almost $29 billion that’s been sunk into producing the 787 Dreamliner jet.
The shares fell 1.9 percent to $130.11 at 11:25 a.m. in New York. The stock earlier dropped 3.2 percent, the most intraday since Feb. 24. Boeing had declined 8.2 percent this year through Tuesday, the fourth-worst performance among the 30 members of the Dow Jones Industrial Average.