The analysts noted that deferred production costs on the 787 program increased by $790 million in the second quarter to a total of $27.7 billion. Wells Fargo expects a similar size increase in the third quarter but looks for lower increases to the deferred costs. The firm's valuation range on Boeing stock is $163 to $166 and it categorizes risks as reaching that level on weak orders, production cuts, delays and cost overruns, and disruption to the supply chain.