RBC Capital analyst Ken Herbert keeps an Outperform rating and $230 price target on Boeing (BA) but expects investors to take a cautious view on the stock, even though the implications of the Air India crash today are not known at this time. The incident will likely limit near-term upside associated with the historical OEM stock outperformance the week of the airshow, the analyst tells investors in a research note. RBC adds that historically, after several of the more recent air crashes or incidents involving Boeing aircraft, the stock has been down an average of 5% on that day and then down an average of 6% one week after the accident.
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