Boeing (BA) shares have been under pressure, but a new update from the CFO is helping lift the company’s outlook. In a recent research report, Top Bernstein analyst Douglas Harned reiterated his Outperform rating on Boeing and $267 price target, arguing that the latest CFO update gives far more clarity than the current stock price reflects.
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Harned said the recent 20% slide was driven by worry over the 777X delay, higher 2026 spending, and softer near-term cash numbers. But he pushed back, saying those concerns “do not reflect the full picture.” According to him, the CFO’s comments show that Boeing’s core programs are still moving in the right direction and that the long-term cash story remains intact.
CFO Update Signals Stronger Cash Trends Ahead
Harned highlighted CFO Jay Malave’s update that 737 and 787 production continues to ramp, even if deliveries have lagged. He called these two programs the “engine” of Boeing’s future cash recovery.
Building on that, Malave guided to “low-single-digit” billions in free cash flow for 2026, even with the $700 million DOJ charge now pushed into next year. He also said Boeing is moving toward about $10 billion in annual free cash flow over time.
At the same time, Harned backed Boeing’s plan to spend more in 2026, saying the added investment is tied to higher 787 production in Charleston and key defense work in St. Louis. He noted that Boeing’s backlog, more than 1,000 jets, gives the company plenty of room to support these plans.
Taken together, the analyst contends that cash improvements and steady production will be the key drivers from here.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 13 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 27.96% rally in its share price over the past year, the average BA price target of $249.07 per share implies 22.97% upside potential.
