Boeing's (NYSE:BA) Design Changes on 787 Going Well

After the fire on a 787 connected to the power distribution panels caused concern over the future of the panels for Boeing (NYSE:BA), as it wasn't immediately known whether or not it was going to result in a major redesign or only needed to be tweaked.

That has been resolved, as the company recently announced they would only need to make some minor changes to the panels in response to the fire, which was caused by a short circuit in one of the power distribution panels. The short circuit was the result of foreign debris lodging in the panel.

One change being made is with the software which will have improvements made to increase fault protection. Boeing says the all the minor changes are proceeding well.

Jefferies said they are in agreement with the conclusions of Boeing, and see positive things going forward for the company. They maintain their "Buy" rating on them, along with their 2010,11,12 earnings per share estimates of $3.90, $5.00, and $6.00, while raising their price target.

Boeing closed Friday at $64.80, falling $0.61, or 0.93 percent. Jefferies has a price target of $80 on them.