Boeing Stock Tumbles Amid Production Woes and Regulatory Scrutiny

Boeing's stock price plummeted by 3.7% on Wednesday after CEO Kelly Ortberg expressed concerns about the company's ability to consistently meet its 737 MAX production goal of 47 aircraft per month.

Ortberg pointed to delays in wing production and stated that Boeing still has work to do before reaching the desired level of output.

In a note, Bank of America analyst Ronald Epstein argued that the market reaction may have been an overreaction, maintaining his Buy rating and $270 price target for the company.

Epstein noted that Boeing's operating position has improved from last year, and its supply network is capable of supporting higher production levels.