Baird analyst Peter Arment lowered the firm’s price target on Boeing to $240 from $300 and keeps an Outperform rating on the shares. The firm said they have adjusted deliveries and FCF assumptions for 2024 reflecting the latest commentary from CFO Brian West and current 2Q24 deliveries that are tracking to match 1Q24. Baird remains constructive on the stock for the long term as the brutal 1H24 performance reflects peak in sentiment negativity.
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