Boeing Faces Downgrade as Wells Fargo Warns of Cash Flow Challenges

Wells Fargo's rare bearish outlook cites extensive debt and potential equity raise; Boeing shares hit two-year low.

Wells Fargo downgraded Boeing's stock from 'equal-weight' to 'underweight' and reduced the price target to $119.
Analyst Matthew Akers predicts Boeing's free cash flow will peak by 2027, impacted by aircraft development costs.
Boeing's shares fell over 8%, reaching their lowest level since November 2022.
The company has $45 billion in net debt, which could consume its cash flow through 2030.
Additional risks include union negotiations, softening airline demand, and technical issues with 777X and Starliner jets.