Boeing: Buy Before The Cash Flow Surge

Boeing is making tangible progress on sustainable production growth, with Q2 revenue up 8% and free cash flow turning positive. I maintain a Buy rating and a $321.75 price target, citing improving cash flow, disciplined balance sheet repair, and clearer recovery milestones. Execution risks persist in Commercial Airplanes and Defense, but production, certification, and cash flow trends increasingly support the 2028 recovery case. Upside depends on stable 737/787 rate increases, 777X certification progress, and avoidance of new material defense charges.

Boeing ( BA ) is making strong progress on a sustainable growth path for airplane production. The company recently reported its second quarter results with $24.6 billion in revenue and $631 million in free cash flow. Unlike the