As a result, the firm cut its 787 delivery target for 2011 to 14 from 22, but gave a bullish assessment of the long-term outlook for the shares.
"We believe Boeing stock will outperform over the cycle, but near-term headwinds from the 787 will keep the stock range bound in the $60 to $70 range," Wedbush said.
Written by Michael Baron in New York.
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