Boeing price target lowered to $110 from $119 at Wells Fargo

Wells Fargo lowered the firm’s price target on Boeing to $110 from $119 and keeps an Underweight rating on the shares. The firm is cautious on Boeing (BA) and General Dynamics (GD) into the Q3 results. The analyst took down Boeing’s Q3 free cash flow forecast on the strike and less inventory liquidation. Further out, it assumes Boeing doesn’t hit 38 per month on 737 production until the second half of 2025 given it is now slowing suppliers.