Boeing price target lowered to $170 from $195 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Boeing (BA) to $170 from $195 and keeps an Equal Weight rating on the shares. The firm sees the new credit agreement and mixed shelf helping lift liquidity concerns, providing near-term support for the stock, adding that it believes investors think “we could be approaching trough for the stock given new clarity around liquidity.” While consensus expectations continue to assume a near-term resolution to the labor dispute, the firm is “hesitant to fully discount the possibility of the labor strike dragging on,” the analyst added.