Boeing slumps as Trump-Xi meeting produces no purchase announcements, Deutsche Bank downgrades to “hold” from “buy”
Blackwell chips weren’t the only thing that US President Donald Trump and Chinese President Xi Jinping didn’t talk about that was supposed to be on the agenda.
Andrew Bishop, global head of policy research at Signum Global Advisors, flagged that “multiple previously-mentioned items were seemingly left out of the deal,” including purchases of Boeing aircraft by China.
Shares of Boeing are selling off amid the lack of a purchase agreement for the American company’s planes in the one-year deal and a downgrade by Deutsche Bank. Analyst Scott Deuschle lowered the stock to “hold” from “buy,” cutting his free cash flow estimates and writing that the company remains “constrained by the burdens of the past.” He also reduced his price target to $240 from $255.
The plane maker recently reported quarterly results, in which it booked its first quarter of positive free cash flow since its door plug blowout in January 2024.
