- RBC Capital analyst Ken Herbert lowered the price target on Boeing Co BA to $200 (39% upside) from $220 while maintaining the Outperform rating on the shares.
- The analyst states that the strong June deliveries support confidence into 2H22; the focus remains on the MAX production and delivery outlook, the 787 resumptions of deliveries, and the 2022 FCF guide.
- Herbert mentions that expectations around the Farnborough airshow are low, which could provide a positive catalyst.
- Also Read: Airbus, Delta Explore Expanding A220 Jet Order: Reuters
- The analyst continues to like the stock near-term on potential catalysts and continues to model positive 2022 FCF.
- Meanwhile, Herbert lowered the price target, citing lower multiples reflecting long-term headwinds.
- Herbert sees certification of the MAX-10 by December as increasingly to be at risk.
- Price Action: BA shares are trading higher by 0.03% at $143.99 on the last check Thursday.
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