Credit Suisse downgrades Boeing

After an underperforming rating for Boeing's shares and a $98 per-share price target for Boeing by Credit Suisse analysts, the company's stock tumbled about 1% ahead of Wednesday's open.

Credit Suisse forecasts are significantly worse than the Street, which is due to the fact that analysts consider the market "excessively optimistic about BDS profitability."

“While our forecasts may have upside potential if our assumption of Chinese order flow turns out to be wrong, we believe these earnings justify a consistently lower multiple taking into account their contribution to long-term sustainability and terminal value,” the analysts said.