Boeing price target lowered to $224 from $252 at Citi

Citi lowered the firm’s price target on Boeing to $224 from $252 and keeps a Buy rating on the shares. The company’s Q1 results were better than expected, but “it’s clear there is much left to do,” the analyst tells investors in a research note. The firm believes Boeing “will come through this healthier than before.” This should position it well to take advantage of its duopoly position in commercial aerospace at a time when backlogs stretch out for roughly a decade and customers are clamoring for new aircraft, contends Citi.