Airbus Lowers Targets After Benefiting From Boeing Struggles

Airbus stock dropped as much as 11% on Tuesday after it reduced delivery targets, citing supply chain issues.The European planemaker announced Monday that it intends to deliver around 770 commercial jets this year, down from 800.It also curbed plans to increase production of the A320neo family. Airbus had aimed to increase output from 50 to 75 a month by 2026, but the target has now been…