Boeing price target lowered to $240 from $270 at Jefferies

Jefferies analyst Sheila Kahyaoglu lowered the firm’s price target on Boeing to $240 from $270 and keeps a Buy rating on the shares. The length of the IAM strike is “unpredictable,” but the firm’s baseline assumes a four-week strike and an early October end, so it reset its expectations to account for a likely slower 737 ramp and “ongoing defense pressures that Boeing cannot shake,” the analyst tells investors.