Boeing Upgraded to Buy at UBS on 737 MAX Return

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Boeing  (BA) – Get Report shares rose Monday after UBS analyst Myles Walton upgraded the jet maker to buy from neutral and doubled his share-price target to $300.

The return to service of Boeing’s 737 MAX after a two-year grounding sparked the move. The MAX had been grounded after two of them crashed, in October 2018 and March 2019.

“Our out-year free-cash-flow estimates have moved materially higher,” he wrote in a commentary obtained by TheStreet.com.

“We see advances coming back faster, with 50-plus-per month on the 737 in 2025 coupled with cost actions across the enterprise more than offsetting lower wide-body production (i.e., another 787 rate cut just announced).”





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