UPDATE: J.P. Morgan Raises Price Target on Boeing to $85

According to J.P. Morgan, Boeing (NYSE: BA) price target is raised to $85.

J.P. Morgan said that it is updating its Boeing model for a revised 787 delivery forecast and cash flows. “This affects our sales and cash flow estimates but not our earnings estimates, which remain $4.50 for 2011, $4.85 for 2012, and $5.65 for 2013.”

Boeing closed yesterday at $73.53.