JPMorgan lowered the firm’s price target on Boeing to $230 from $270 and keeps an Overweight rating on the shares. The analyst reduced estimates following management commentary last week “that helps to bound the impact of lower 737 production and deliveries this year.” Regarding the out-years, Boeing’s unchanged expectation for $10B of free cash flow in the 2025-2026 timeframe highlights the potential for material cash flow growth, the analyst tells investors in a research note. However, the firm reduced its 2026 free cash flow estimate to $8.5B given uncertainty about the timing of out-year cash flows.
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