BofA Stands Firm on Boeing Price Target Amid Production Delays

Boeing's stock took a hit after CEO Kelly Ortberg's comments on production delays. Shares fell by 3.7% following his warning that Boeing still has work to do before consistently reaching its goal of producing 47 aircraft per month for the 737 MAX.

The Federal Aviation Administration proposed inspections for certain 737 MAX aircraft after reports of cracks near a forward galley door structure, adding to Boeing's regulatory woes.

Bank of America analyst Ronald Epstein defended his $270 price target and Buy rating on Boeing stock, saying that the market reaction may have been excessive. He noted that the company's operating position has improved from a year earlier, while its supply network remains capable of supporting higher production.