CFRA Analyst Is Bullish On Boeing

Jim Corridore, a CFRA analyst, spoke on CNBC's "Power Lunch" about his bullish view on Boeing Co BA.

The analyst expects that Boeing 737 Max is going to get recertified in September or October and planes are going to fly again in the fourth quarter. The parked planes are going to start to move out and the company is going to start to book revenues on them, said Corridore. He explained that this is a bullish scenario and he is optimistic because the orders were delayed and not canceled.

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We would have the bear case scenario if a hold in production happens, explained the analyst. He doesn't think this scenario is going to happen and he is sticking with his Buy rating. Corridore would become concerned if he sees some delay in the recertification process.

Boeing closed Wednesday lower by 3.1% at $361.43.