- Morgan Stanley analyst Kristine T Liwag has reiterated an Overweight rating on the shares of Boeing Co BA with a price target of $233.
- The analyst said Boeing's stock had declined about 12% over the last week compared to the S&P 500's decline of about 6.5%.
- Liwag views the pullback as largely beta and market-driven and not necessarily associated with any idiosyncratic factors new to the market.
- On the demand front, the analyst sees the 737 MAX order book ex-China and MAX 10 as well supportive of increased production rates from the current rate of about 31 per month.
- Also Read: Boeing To Pay $200M To Settle SEC Charges On Misleading About 737 MAX Safety
- The analyst also mentioned that Boeing and the Civil Aviation Administration of China (CAAC) reportedly met to discuss the return of the 737 MAX aircraft to China.
- The analyst sees BA's plan to remarket some of the aircraft earmarked for Chinese customers as incrementally positive.
- The analyst lists the failure to get Boeing 737 MAX 10 certified by the end of the year could become an issue of concern for the company.
- Price Action: BA shares are trading higher by 4.21% at $132.84 on the last check Wednesday.
- Photo Via Company
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