Boeing BA was upgraded to outperform from sector perform at RBC Capital Markets, which lifted its price target to $275 from $200. “After another year of supply chain disruptions and lowered expectations, we believe the set-up into 2024 is favorable,” said analysts led by Ken Herbert. “We believe buy-side expectations for 2024-2025 [free cash flow reflect conservatism, and as execution on the MAX and 787 continue to gradually improve, we believe the potential for positive revisions is growing.” Boeing shares closed Monday at $219.30, up 15% on the year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
