Citi lowered the firm’s price target on Boeing (BA) to $207 from $209 and keeps a Buy rating on the shares. The company preannounced Q4 results, reporting that it expects to record $3.8B in incremental charges across its Commercial and Defense businesses driven by higher anticipated costs related to a recent labor agreement and higher anticipated supplier costs over the next decade, the analyst tells investors in a research note. The firm anticipates a similar profit impact on other programs to flow through the income statement via lower margins over time. Given all of this, Citi lowered estimates through 2027.
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