- Boeing (BA -2.5%) is down again - and again weighing on the Dow - and some analysts are starting to think the selloff is extreme.
- Canaccord's Ken Herbert, for one says "the negative reaction to the lower than expected FY14 guidance was overdone... in terms of EPS, we believe better than expected execution will drive upside to the $7.10 initial 2014 guidance."
- The firm lowers its 2014 EPS estimates to $7.50 but raises 2015 estimates to $8.48; cash flow in 2014 is most negatively impacted by reduced 767 deliveries, the timing, and increased cash taxes on the 787, but rate increases in the 787 and 737 will provide upside in the longer term.