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Boeing (BA) PT Lowered to $445 at Baird on Increased Risk to Production Rates Over Coming 2 Years

October 2, 2019 8:02 AM EDT
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Price: $185.56 +1.47%

Rating Summary:
    25 Buy, 9 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 9 | Down: 13 | New: 62
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Baird analyst Peter Arment lowered the price target on Boeing (NYSE: BA) to $445.00 (from $470.00) while maintaining a Outperform rating.

The analyst comments "We are lowering our price target on the BA stock to $445 from $470 as we see increased risks to BA's production rates over the next 24 months. We still remain Outperform-rated on BA as the FCF dynamics begin to improve in 2020, with 2021 still looking favorable above $30+ per share. However, with ongoing wide-body pressures and 737-MAX rate recovery, we see a lower valuation range more likely especially with existing China risks. Our Fresh Pick on BA expired on Monday with modest 8% gain over the summer (S&P 500 was up 4% over the same period)."



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