JPMorgan cuts Boeing numbers, sees ‘plenty of cash’ after debt raise

JPMorgan analyst Seth Seifman lowered Q2 and 224 estimates for Boeing’s free cash flow following the company’s update at an investor conference last week. The reasons are fewer near term 737 and 787 deliveries combined with Boeing’s continued efforts to improve its production processes, the analyst tells investors in a research note. The firm says that despite the $4B cash outflow now expected for Q2, Boeing’s recent debt raise leaves the company “with plenty of cash.” Boeing has been unable to deliver aircraft to China recently while regulators there review the batteries that power cockpit voice recorders, notes JPMorgan. The firm keeps an Overweight rating on the shares with a $210 price target.