Boeing price target raised to $220 from $210 at RBC Capital

RBC Capital raised the firm’s price target on Boeing to $220 from $210 and keeps an Outperform rating on the shares. The company reported largely in-line Q2 results as its defense business took charges of $1B on development programs, with incremental softness in the KC-46 and commercial margins reflected the soft deliveries and incremental costs, the analyst tells investors in a research note. RBC adds however that the hire of Kelly Ortberg as the new CEO is a “very positive development”.