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The bull case is getting louder
Boeing is inching into the kind of turnaround investors have been waiting on like it’s the last boarding call of the night. The company’s Q2 revenue climbed 8%, free cash flow flipped positive, and the latest take is still firmly in the Buy camp with a $321.75 price target.
Why that matters
Cash flow is the adult in the room. Revenue growth is nice, but positive free cash flow means Boeing is moving from “please be patient” mode toward “we can actually fund the repair job.” That matters because the balance sheet has been doing a lot of heavy lifting while the business works through production and certification headaches.
Still not a victory lap
This isn’t a clean skies-and-sunshine story just yet. Commercial Airplanes and Defense still carry execution risk, and Boeing has earned a bit of skepticism after years of recovery promises. But the trendline is improving, and the 2028 recovery case looks more believable when production, certification, and cash flow are all moving in the same direction.
Big picture: Boeing doesn’t need perfection right now — it needs momentum. And right now, the market is getting a little more of it.