Boeing De-Risks Free Cash Flow Outlook, Shares May Stay Range-Bound, RBC Says

MT Newswires Live01:30

Boeing (BA) has de-risked its free cash flow outlook with a detailed multiyear path, while shares will likely be range-bound in the near term amid slower-than-expected aircraft deliveries, RBC Capital Markets said in a note emailed Wednesday.

The company reported a largely in-line Q3 with a slight cash flow beat, then laid out a path to about $10 billion in free cash flow in 2029, well below investor expectations, in what management described as a one-year delay, RBC said.

Boeing lowered its 2026 delivery target for the 737 MAX to under 500 jets, against RBC's 493 estimate, and expects output to hold at 47 jets a month in H1 2027 before rising to 52 a month in H2 2027 at the earliest, according to the note.

The 777X remains on track for entry into service in 2027 with 10 to 15 deliveries assumed that year, while the 787 is set to stabilize at 10 jets a month in 2027, the investment firm said.

RBC kept its outperform rating and $235 price target on the stock.

Price: 167.13, Change: -1.05, Percent Change: -0.62

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