Boeing (BA) shares plummeted 5.01% in intraday trading, as investors reacted to concerns about the potential impact of Trump tariffs on the US Aerospace and Defense sector and a reduced price target from analysts. The stock's decline comes amidst a challenging environment for the aerospace giant, which has been grappling with various issues in recent months.

TD Cowen, a prominent financial services firm, warned that Trump tariffs are likely to hurt the US Aerospace and Defense sector by increasing costs and disrupting supply chains. The firm stated that most demand impacts remain "unknowable," adding uncertainty to the industry's outlook. In light of these concerns, TD Cowen cut its price target for Boeing to $180 from $200, while maintaining a Buy rating on the stock.

Despite the current headwinds, some analysts remain cautiously optimistic about Boeing's prospects. The company is expected to report its quarterly results on April 23, which may provide more clarity on its financial health and future outlook. Additionally, Boeing's recent agreement with Flydubai to retrofit Space Bins on 21 of the carrier's 737 MAX aircraft showcases ongoing business activities. However, investors will be closely watching for any signs of improvement in Boeing's performance and its ability to navigate the challenging market conditions.