Boeing’s Cash Flow Goal May Be Pushed Back, Wells Fargo Says While Lowering Outlook

Boeing Co (NYSE:BA) may need to delay its annual free cash flow target of $10 billion by two years to 2027-’28 and come up with $30 billion before it can start designing a new aircraft, said Wells Fargo, which lowered its outlook on the company’s shares.

Lead analyst Matthew Akers lowered Boeing from Equal-Weigh to Underweight and cut the target price from $185 to $119.

Following the downgrade, Boeing’s shares declined more than 8% to almost a two-year low on Tuesday, Reuters reported.

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Akers said Boeing has about $45 billion in net debt that it must …

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