Boeing’s move to shake up its leadership hasn’t persuaded one analyst, who was among the first to downgrade the stock in the midst of its 737 Max crisis, to turn positive again.
Argus Research analyst John Eade, appearing on “Power Lunch,” told CNBC on Monday that the planemaker has more work to do to prove it can get its popular 737 Max back in operation.
Boeing ousted CEO Dennis Muilenburg Monday morning as the company struggles to rebound from two fatal 737 Max crashes that killed more than 340 passengers.
David Calhoun, a General Electric veteran, has been tapped to become the new CEO in January.
Argus, which has been a longtime bull on Boeing, downgraded the stock from buy to hold days after the FAA issued the grounding order.
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