Bernstein analyst Douglas Harned lowered the firm’s price target on Boeing to $240 from $272 and keeps an Outperform rating on the shares. Since the January 5th MAX-9 accident with Alaska flight 1282, the firm sees Boeing’s stock as essentially in a purgatory situation until three issues are resolved, namely CEO choice, 737MAX delivery recovery, and stability of market share. Bernstein revises its delivery and free cash flow outlooks downward.
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