Northcoast Research analysts downgraded Boeing (NYSE:BA) to Sell from Neutral, setting a price target of $140 on the stock. The analysts reflected on a turbulent last three months for Boeing, during which the aerospace sector has seen its fair share of dramatic developments, including unusual incidents and concerns about safety protocols highlighted by whistleblowers. With the quarterly earnings update looming, which the analysts anticipate will raise further concerns about Boeing's fundamentals, Northcoast’s outlook is decidedly bearish.

The analysts suggested that while the market has already reacted to some negative news, as seen in the declining stock price, it may still be overlooking deeper structural issues such as balance sheet stability and potential future cash liabilities.