Jefferies Trims Price Target on Boeing (BA) After Q3, Things Working

Jefferies trimmed its price target on Boeing (NYSE: BA) from $90 to $87 but kept its Buy rating following Q3 results.

The firm comments, "For the third quarter of 2011, we had figured, BA might deliver EPS of about a penny per plane. The results topped our estimate. The company reported EPS of $1.46 from the delivery of 127 jetliners coupled with solid performance from the Defense and Space unit. Our estimate was $1.17 and EPS in Q3:10 was $1.12."

Q4 EPS was cut from $1.30 to $1.05. FY11 was raised from $4.50 to $4.55. FY12 down from $5.00 to $4.85.

For more ratings news on Boeing click here and for the rating history of Boeing click here.

Shares of Boeing closed at $66.56 yesterday.

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