Boeing (BA) PT Lowered to $210 at Jefferies

Jefferies analyst Sheila Kahyaoglu lowered the price target on Boeing (NYSE: BA) to $210.00 (from $235.00) while maintaining a Buy rating.

The analyst commented, "Positive catalysts for BA hinge on macro factors with MAX re-cert and a widespread vaccine. With that said, the next 3 to 4 Qs will represent more or less the same financials with the outlook focused on normalized 2023 profitability and FCF. Risks from here are:1) MAX production at 31/month unlikely by 2022; 2) Likely another 787 cut. Our forecast is lowered to a cash usage of $4.70/sh. in 2021 to account for MAX PDPs and inventory unwind."

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