Boeing Company (BA)

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RBC cuts Boeing's PT on expectations for fewer 2024, 2025 737 MAX deliveries
By: Reuters | April 16, 2024

** RBC Capital Markets cuts PT on Boeing BA on expectations for fewer 737 MAX deliveries in 2024, 2025

** Stock edged up 0.11% at $167.93 in premarket trade

** Cuts PT by $10 to $215, expects Boeing to remain at a low production rate on the MAX for much of 2024

** Also expects co to eventually acquire Spirit AeroSystems SPR, but adds co's execution on expected rate increases would require substantial investments

** "We do not believe BA has the financial flexibility to launch this (new narrrowbody jet) in the near-term, but its share position in the important narrowbody market will likely necessitate some action here" - Brokerage

** Median PT on the stock is $240, as per LSEG data

** YTD, BA down ~36%

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