Wells sees more pressure on Boeing to raise cash as union talks break off again

Wells Fargo says the firm sees more pressure on Boeing to raise cash in the near term as union talks fall apart once again. Since talks last fell apart September 27, it took ten days for the two sides to return to the negotiating table. Assuming a similar break this time, there may be one more shot at getting a deal prior to earnings on October 23, the firm notes. Wells believes Boeing would like to reach a deal before raising further cash through an equity offering. The firm has an Underweight rating on the shares with a price target of $110.