Boeing price target raised to $200 from $180 at BofA

BofA raised the firm’s price target on Boeing to $200 from $180 and keeps a Neutral rating on the shares. The company has somewhat de-risked 2024 expectations after the late May announcement about burning cash and remains uniquely positioned in the robust air traffic demand environment, but turning around operations could take time and uncertainties remain in the near future, the analyst tells investors. The firm raised its price target to reflect a market re-rating to 4.5% free cash flow yield from a prior 5.0%, the analyst noted.