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Boeing shares close lower on Wednesday, 5G could affect most Boeing 737s radio altimeters, FAA states

5G wireless operations have the potential to affect radio altimeters in most Boeing 737 aircraft and also affect crew workload and jet landings, according to a government notice posted online on Wednesday.

The notice stated that the aircraft’s “radio altimeters cannot be relied upon to perform their intended function if they experience interference from wireless broadband operations in the 3.7-3.98 GHz frequency band (5G C-Band).”

Regulators found out that “during approach, landings, and go-arounds, as a result of this interference, certain airplane systems may not properly function.”

That would lead to “increased lightcrew workload while on approach with the flight director, autothrottle, or autopilot engaged, which could result in reduced ability of the flight crew to maintain safe flight and landing of the airplane,” the Federal Aviation Administration said in the notice.

Boeing shares closed lower for a fourth consecutive trading session in New York on Wednesday. The stock went down 1.17% ($2.32) to $196.42, after touching an intraday low at $195.91. The latter has been a price level not seen since January 31st ($190.00).

Shares of Boeing Company have retreated 2.43% so far in 2022 compared with an 11.34% loss for the benchmark index, S&P 500 (SPX).

In 2021, Boeing Co’s stock went down 5.95%, thus, it underperformed the S&P 500, which registered a 26.89% gain.

Analyst stock price forecast and recommendation

According to TipRanks, at least 13 out of 18 surveyed investment analysts had rated Boeing Co’s stock as “Buy”, while 5 – as “Hold”. The median price target on the stock stands at $258.75. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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