Baby steps are still steps, slow progress is still progress. Watching Boeing’s recovery has required a particular kind of patience. One that tolerates setbacks, accepts slow progress, and resists the urge to declare victory too early.

Bank of America (BofA) Securities analyst Ronald Epstein has that kind of patience. And on May 1, he made clear he hasn’t lost it.

Epstein reiterated his Buy rating on Boeing (BA) with a $270 price target, according to TipRanks data, a call that implies meaningful upside from the stock’s May 1 close of $227.38. The 5-star analyst, who ranks 211 out of 12,160 on TipRanks with a 61.5% success rate and 19.3% average return per rating, didn’t oversell the story. His language was deliberate: Boeing is…