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Bernstein upgraded Boeing to Outperform from Market Perform with a price target of $218, up from $181. Boeing is now "making the progress it needed for the growth trajectory" expected before the Alaska door plug accident in January 2024, the analyst tells investors in a research note. The firm believes that after high Federal Aviation Administration scrutiny, Boeing Commercial Airplanes "should be on a much firmer path than in 2023." Bernstein points out the company's new 787 guidance was above our expectations, as it is expected to move to seven per month before year-end, with quality and heat exchanger supply issues resolved.

Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus $1.61... AT&T (T), consensus 52c... Thermo Fisher (TMO), consensus $5.10... Boston Scientific (BSX), consensus 67c... Boeing (BA), consensus ($1.30)... GE Vernova (GEV), consensus 37c... General Dynamics (GD), consensus $3.46... Teladyne (TDY), consensus $4.92.

Morgan Stanley raised the firm's price target on Boeing to $185 from $175 and keeps an Equal Weight rating on the shares. Boeing showed positive progress in aircraft production, execution in Defense, and free cash flow usage in Q1, but the firm maintains an Equal Weight rating as it contends that consensus already expects a recovery of the business.

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) Boeing (BA) has begun flying the 737 Max jets that were refused by Chinese airline customers back to the U.S., Julie Johnsson, Siddharth Vikram Philip, and Danny Lee of Bloomberg reports. The jet was intended for Xiamen Air and flew from Zhoushan to Guam. There are at least two other planes in Zhoushan awaiting delivery. 2) Tesla's (TSLA) production launch for an affordable car has been delayed, Abhirup Roy, Aditi Shah, and Hyunjoo Jin of Reuters reports, citing three sources with knowledge of the matter. Global production of the lower-cost Model Y is expected to begin in the U.S., the sources said. Production is expected to occur at least a few months later than originally outlined in Tesla's public plan, with a range of revised targets from Q3 to early next year, the sources added. 3) Citing interviews with current and former company leaders, investors, customers and dealers, as well as public filings, the Wall Street Journal details how a dispute over the next CEO of Harley-Davidson (HOG), remote work and DEI led to a director's resignation and his public battle to oust other board members. 4) Ford (F) has stopped shipping pickup trucks, SUVs and sports cars to China to avoid increased tariffs, Mike Colias of Wall Street Journal reports, citing people familiar with the matter. Ford halted shipments this week of F-150 Raptors, Mustang muscle cars and Bronco SUVs built in Michigan, as well as Lincoln Navigators made in Kentucky, sources told the Journal. 5) More than 50 years ago, PepsiCo (PEP) began making concentrate in Ireland because of the country's low corporate tax rate, but that strategy is now backfiring as the concentrate for nearly all U.S. sales of Pepsi and Mountain Dew is subject to a 10% tariff, Laura Cooper of Wall Street Journal reports. While Coca-Cola (KO) for decades has also produced concentrate in Ireland, the company makes most of the concentrate for its American sodas in Atlanta and Puerto Rico, a U.S. territory, the Journal points out.