mo4ch:>Boeing shares plunge over downgrade due to 737 Max production delays | Mo4ch News

US aircraft manufacturer Boeing’s shares tumbled more than four percent on Monday after Bank of America Merrill Lynch (BofA) downgraded the stock. The bank said that troubles with Boeing’s 737 MAX 8 jets are worse than expected.BofA cut its rating on the Dow component from buy to neutral and lowered its price objective to $420 from $480. It said that now the bank estimates delays with the plane will last six to nine months, longer than the three- to six-month delay originally forecast.Also on rt.comBoeing says they ‘own safety,’ vowing to review design process & produce 10 planes less per monthThe two recent crashes of the 737 Max forced Boeing to cut production of its most popular passenger jet. The company’s shares have fallen nearly nine percent in the past month but were still up 21.5 percent year to date.In March, Ethiopian Airlines Flight 302 plunged shortly after takeoff, killing all 157 people on board. Indonesian Lion Air Flight 610 nosedived into the sea last October, ki…