TD Cowen maintains Buy rating on Boeing, $210 price target

What happened

TD Cowen kept a Buy rating on Boeing stock and a $210 price target, which implies 24.9% upside from the October 27 close of $168.18. The analyst note cited Boeing's revised free cash flow outlook for 2027-2029 and expected production changes.

Confirmed

Global impact / market context

The $210 target is a forecast, not a guarantee, and it signals the analyst expects Boeing shares to rise about a quarter from the last close. Boeing's own cash forecast matters because more cash available lets the planemaker fund production and repay debt without raising outside money.

Analyst inference

Boeing's revised outlook points to $10 billion in free cash flow by 2029, which means cash left after running and investing in the business. That depends on steady 737 MAX output and more 787 deliveries, so investors are effectively tracking factory execution rather than one-off financial items.

Analyst inference

What to watch

1. Boeing expects to reach $10 billion in free cash flow by 2029 under its revised outlook, supported by increased deliveries and improved cash margins on key aircraft models. Confirmed
2. Watch whether Boeing stabilizes 737 MAX production rates and raises 787 deliveries, since the analyst note says that production growth is meant to support the company's financial targets. Proposed
3. Track Boeing's actual free cash flow against the 2027-2029 path; a shortfall would weaken the cash-based case behind the $210 target, while delivery gains would support it. Analyst inference

Evidence

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