TD Cowen lowered the firm’s price target on Boeing (BA) to $230 from $275 and keeps an Outperform rating on the shares. The firm said both the FAA and Boeing are slowing production to reduce out-of-sequence work; and the company no longer accepts units from Spirit AeroSystems (SPR) with traveled work. This should stabilize production for a ramp in H2 which lead to Cowen cutting their 2024 delivery estimates.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BA:
- Early notable gainers among liquid option names on March 22nd
- Unusually active option classes on open March 22nd
- Airbus CFO tells CNBC company ‘not happy’ about issues at Boeing
- Boeing board planning to meet airline chiefs without CEO, Bloomberg reports
- Boeing price target lowered to $250 from $275 at UBS
