BofA analyst Ronald Epstein raised the firm’s price target on Boeing (BA) to $270 from $260 and keeps a Buy rating on the shares after the company reported what the firm calls “one of its cleanest quarters in recent years.” While the earnings report was good, Boeing shares ended the day down 4%, which the firm views as a reaction to CEO Kelly Ortberg’s comments that the company will soon request the 737 production cap be increased. It seems many were expecting a much more aggressive 737 production rate increase by Q3, but “despite the noise, we appreciate the discipline and see further upside ahead,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BA:
- Four flight attendants sue Boeing over 737 MAX 9 panel blowout, Reuters says
- “Double Disaster”: Boeing Stock (NYSE:BA) Slips On Strike Threat, Trouble for the F-47
- ATI, Boeing extend and expand titanium supply long-term agreement
- “Supportive Quality KPIs”: Boeing Stock (NYSE:BA) Slips in Flood of Analyst Comments
- Boeing’s Earnings Call: Optimism Amid Challenges