Boeing

BA · NYSE

$190.47−$0.95 (−0.50%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $191.42

BA analyst rating

BuyConsensus of 16 analysts over the last 12 months. 94% rate it a buy.

Strong buy0
Buy15
Hold1
Underperform0
Sell0

12-month price target · 30 analysts

Average $274.16 (+43.9% upside)

Low: $233.23
Now: $190.47
High: $320.25

Upgrades and downgrades

The latest rating actions, newest first

BA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 19, 2026	Maintains	Equal-Weight	$250.00 → $225.00	61%
RBC Capital	Oct 15, 2026	Maintains	Outperform	$265.00 → $235.00	59%
Bernstein	Oct 12, 2026	Maintains	Outperform	$298.00 → $278.00	39%
TD Cowen	Oct 9, 2026	Maintains	Buy	$250.00 → $240.00	63%
Barclays	Oct 9, 2026	Initiates	Overweight	$300.00	26%
Jefferies	Sep 21, 2026	Maintains	Buy	$295.00 → $265.00	55%
B of A Securities	Sep 18, 2026	Maintains	Buy	$270.00	57%
Argus Research	Aug 11, 2026	Upgrade	Hold → Buy	$265.00	38%
Tigress Financial	Aug 6, 2026	Maintains	Buy	$295.00 → $305.00	56%
BNP Paribas	Aug 3, 2026	Upgrade	Underperform → Outperform	$230.00 → $300.00	68%

The case for and against

Updated Oct 14, 2026

Bull case

Boeing is supported by a record backlog of about $715 billion, including more than 6,200 commercial aircraft, which gives it rare multi-year revenue visibility as 737 and 787 production normalizes and deliveries rise. Its Q2 2026 results showed revenue up 8% Y/Y to $24.6 billion, positive free cash flow of $631 million, and 171 commercial aircraft delivered, reinforcing an operational turnaround with improving production efficiency, supplier stability, and margin leverage. Beyond commercial aviation, defense, space, cybersecurity, and Global Services add more stable recurring demand, while debt fell to $45.9 billion at the end of Q2 2026 and liquidity remained strong, supporting deleveraging and future cash generation.

Bear case

Boeing is facing a fundamentally fragile recovery despite near-term sales and cash-flow improvement, because the business still shows lingering profitability weakness with NOPAT at a loss of $4.52 billion and economic profit at a loss of $9.76 billion over the LTM. Although net sales revenue rose 24.78% to $93.99 billion and EBITDAR turned positive at $1.34 billion, ROC remained negative at -7.08%, signaling that growth is not yet translating into durable capital efficiency. The outlook remains negative because execution risk, product malfunctions, supply-chain disruptions, and intense competition from Airbus, Lockheed Martin, and Northrop Grumman could easily derail the projected improvement.

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