Ronald Epstein, Bank of America Analyst has lowered the target price to $150.00 per Boeing stock (NYSE:), down from $180.00.

Epstein explained to clients today that the lower price target is indicative of a higher risk profile for Boeing in a note.

“We see a significant number of ‘unexpected’ challenges Boeing could still face in the near term,” Epstein wrote.

Epstein’s comments come after Ryanair joined the list of unhappy customers with their CEO saying that 737 MAX delivery delays are impacting their business. Bloomberg reports that China Southern has cancelled more than 100 737 MAX plane deliveries.

“We would expect most of the related PDPs (pre-delivery payments) to be already used or negotiated, considering for how long MAX deliveries have been delayed. Some MAX’s have been sitting for over 3 years. A heavy maintenance inspection would have to be performed if the MAX’s were actually flying. However, we see short-, near-, and long-term risks related to these news,” the analyst added.

By Senad Karaahmetovic