Boeing upgraded to Buy from Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn analyst Olivier Brochet upgraded Boeing (BA) to Buy from Neutral with a price target of $275, up from $180. “After years of troubles, things seem to be taking a more positive turn for Boeing and the company appears healthier,” the analyst tells investors in a research note. The firm says the company’s improvements in financials, culture, industrial processes and strategy, combined with production acceleration, “should enable a reassessment of the stock in the market.” It believes upside to 737 and 787 deliveries could add $1.7B in post-tax cash profits versus the firm’s current model. This could potentially take Boeing’s free cash flow above $14B at the end of the decade, above the historical peak of $13.6B reached in 2018, contends Rothschild & Co Redburn.