Benzinga | Oct 20, 2021 11:56AM EDT

Bernstein Views Boeing's Q3 Earnings As Challenging, Cuts Price Target By 3.5%

* Bernstein analyst Douglas Harned lowered Boeing Co's (NYSE:BA) price target to $269 (an upside of 23.7%) from $279 and maintained an Outperform rating on the shares ahead of quarterly results.

* Harned mentions that despite the potential for recovery in six months, Q3 results appear challenging for Boeing and Airbus SE (OTC:EADSY), with issues by far the greatest at Boeing.

* The analyst argues that Boeing has two major issues, namely 787 deliveries remaining shut down and 737 MAX deliveries in Q3 in line with his model. The ramp-up still appears slightly slower than his projections.

* Also Read: Boeing's Stock Is Entering Do-Or-Die Time.

* Price Action: BA shares are trading higher by 0.56% at $217.18 on the last check Wednesday.