Boeing price target lowered to $85 from $86 at Wells Fargo

Wells Fargo analyst Matthew Akers lowered the firm’s price target on Boeing (BA) to $85 from $86 and keeps an Underweight rating on the shares. The firm notes Boeing’s equity raise likely reduces near-term downgrade risk, but thinks significant progress through 2027 is needed to keep its investment grade rating. Wells believes asset sales could potentially pull forward balance sheet improvement about a year.