• 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 ReadAirbus, 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.
  • Photo Via Company


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