Boeing stock gains on bounce back

Boeing Co. shares rose 2.3% in morning trading on Thursday, reaching $171.04, as the stock bounced back from deeply oversold technical levels following a sharp decline earlier in the week.

The aerospace manufacturer's stock had dropped approximately 10.7% on Tuesday, marking its worst single-day decline in years. The selloff came after Boeing reported third-quarter 2026 results that showed a core loss per share of $0.34, wider than the $0.21 loss analysts had expected.

Revenue for the quarter increased 4% year-over-year to $24.19 billion, surpassing analyst estimates. Management indicated that 737 production would remain stable at 47 aircraft per month through 2027, pushing the company's 500-unit delivery target for 2026 out of reach.

The stock's relative strength index fell to approximately 20, a level typically considered deeply oversold and often associated with technical rebounds.

Following the earnings report, several Wall Street firms including JPMorgan, UBS, Jefferies, Bernstein, Bank of America, Wells Fargo, Baird, TD Cowen, and BNP Paribas Exane reduced their price targets on Boeing shares. Most firms maintained bullish ratings on the stock.

Langenberg upgraded Boeing to Buy with a $250 price target, pointing to the company's $745 billion backlog and double-digit year-over-year growth across all business segments. Goldman Sachs maintained its Buy rating on the shares.

Boeing's revised free cash flow projections call for approximately $2 billion in 2026, $6 billion in 2028, and $10 billion by 2029.

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