Boeing Company (NYSE:BA) is showing signs of steady momentum across its 737 and 787 programs in July, navigating through typical seasonal slowdowns and an initially sluggish start.
Bank of America Securities (BofA) analyst Ronald J. Epstein reiterated a Buy rating on Boeing with a price forecast of $260, expressing confidence in the company’s delivery and production trajectory.
Epstein points out that while only 10 737s were delivered by mid-July, this aligns with Boeing’s usual monthly cadence, where activity accelerates in the second half.
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This pattern may reflect Boeing’s strategy of treating the first week as a “safety week” to ensure quality control.
Epstein notes a positive shift in activity from China, where two aircraft have been reactivated and more pre-delivery flights are occurring.
This has already led to three deliveries to China in July, with the potential to reach six by month-end.
Given these developments, Epstein projects 737 deliveries to remain solid for the month, projecting at least 30 units, following the company’s rate of 38 in June.
Although output remains consistent, Epstein cautions that seasonal slowdowns typically seen in July and August could slightly temper overall rollouts this month.
Meanwhile, the 787 program continues to perform well, with four deliveries already completed by mid-July.
Epstein expects total deliveries to reach eight or nine units, potentially matching last month’s year-to-date high of nine.
On the production side, three 787s have already been rolled out this month, and Epstein anticipates a total of six, in line with Boeing’s broader plan to transition to a production rate of seven this year.
Price Action: BA shares are trading higher by 0.17% to $230.30 at last check Thursday.
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Latest Ratings for BA
Date | Firm | Action | From | To |
|---|---|---|---|---|
Mar 2022 | Cowen & Co. | Maintains | Outperform | |
Jan 2022 | Jefferies | Maintains | Buy | |
Jan 2022 | Morgan Stanley | Maintains | Overweight |
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This article Boeing’s July Deliveries On Track With China Uptick originally appeared on Benzinga.com
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