Boeing price target raised to $185 from $170 at BofA

BofA raised the firm’s price target on Boeing (BA) to $185 from $170 and keeps a Neutral rating on the shares. Results were mostly in line with its preliminary announcement, with a reported loss of ($5.90) reflecting the impact of the IAM work stoppage and agreement, defense charges, and costs associated with workforce reductions, the analyst noted. The company has not shared its FY25 outlook as it focuses on fully recovering from the IAM work stoppage impacts and rebuilding trust, notes the analyst, who is leaving EPS and free cash flow estimates unchanged, but raising the firm’s price target on Boeing shares given early signs of improvement following the strike resolution and recent market appreciation.