RBC maintains Outperform on Boeing, holds $260 target

Tuesday, RBC Capital Markets maintained their Outperform rating on Boeing shares (NYSE:) with a steady price target of $260.00. The firm highlighted the competitive landscape, noting that Airbus could potentially increase its market share at Boeing’s expense. This observation comes in light of Airbus’s (AIR-FR) recent orders and deliveries announcement.

The firm’s commentary indicated that Airbus is in a strong position to capture more market share from Boeing. This is contingent on Airbus achieving its conservative target of approximately 800 aircraft deliveries in 2024. The firm contrasted this with the anticipated delivery of around 500 MAX aircraft by Boeing for the same year, a goal that is reportedly becoming more difficult to reach.

Airbus’s ability to meet its delivery goals could exert additional pressure on Boeing’s customer base, as per RBC Capital’s analysis. The firm’s stance on Boeing remains positive, despite the potential challenges posed by its European competitor.

The reiterated price target of $260.00 for Boeing reflects RBC Capital’s ongoing confidence in the company’s stock performance. This valuation is maintained even as the market dynamics suggest a potentially tougher competitive environment for Boeing going forward.

The report concludes with the firm’s belief that the market expectations for Boeing’s 2024 delivery capabilities are becoming increasingly challenged. No further insights or forecasts were provided regarding the long-term impact of these developments on Boeing’s market position or financial performance.

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