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Investing.com - BofA Securities raised its price target on Boeing (NYSE:BA) to $270.00 from a previous target while maintaining a Buy rating on the stock.
The price target adjustment comes as BofA analyst Ronald Epstein revised Boeing’s free cash flow estimates, which remain a central focus for investors. The firm now expects Boeing to generate $3,663 million in free cash flow for 2026, down from its previous estimate of $4,672 million.
The revised estimates reflect several factors affecting Boeing’s financial outlook, including 777X headwinds, increased deliveries, higher capital expenditures, and increased interest expense. BofA Securities characterizes 2026 as "another year of transition" for the aircraft manufacturer.
Despite near-term challenges, BofA continues to expect significant improvements by 2028, projecting free cash flow of $8.0 billion, slightly lower than its previous estimate of $8.5 billion. These projections incorporate the headwinds mentioned in the firm’s analysis.
The new $270 price target is based on normalized free cash flow of $10 per share, down from the previous estimate of $11 per share, while maintaining a relative value to the S&P 500 of 1.0x.
In other recent news, Boeing Co . reported a significant loss in its Q3 2025 earnings, with earnings per share (EPS) at a negative $7.47, which was far below the forecasted negative $0.46. Despite this earnings miss, Boeing’s revenue exceeded expectations, reaching $23.3 billion compared to the forecast of $21.93 billion. Additionally, Boeing is planning to double production at its South Carolina campus, where it manufactures the 787 Dreamliner jet. The company is investing $1 billion to expand the facility, aiming to boost output to 14 aircraft per month in the coming years. Currently, the facility employs about 7,800 people, and Boeing targets a production rate of 8 Dreamliners per month by the end of this year. These developments reflect Boeing’s strategic efforts to enhance its production capabilities despite recent financial challenges.
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