Boeing price target lowered to $210 from $230 at JPMorgan

JPMorgan lowered the firm’s price target on Boeing to $210 from $230 and keeps an Overweight rating on the shares. Boeing’s Q1 delivery announcement confirmed what the market has come to accept over the past two to three months, which is that the pace of activity at Commercial Airplanes is slow, given the need to improve the company’s manufacturing processes, the analyst tells investors in a research note. The firm is taking the opportunity to extend its rate ramps, given the apparent pace of production and news of further cuts to delivery expectations from customers like Southwest.