Barclays upgraded Boeing to Overweight from Equal Weight with a price target of $210, up from $190. The company has shored up its balance sheet so it is no longer an overhang, while its free cash flow trajectory is “much more reasonable,” the analyst tells investors in a research note. Barclays believes Boeing’s new outside leadership “can affect meaningful change that’s necessary” and that the reset to MAX production sets it up to successfully ramp. Upside for the stock now mostly relies on sustained positive momentum for production and deliveries, which Boeing is poised to demonstrate in 2025, contends the firm.
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