Bernstein SocGen Group Reiterates Market Perform Rating on Boeing (BA)

Bernstein SocGen Group analyst Douglas Harned reiterated a Market Perform rating and $179.00 price target on Boeing (NYSE: BA).

The analyst commented: "It appears Boeing is making good progress on the metric most watched by investors: Getting 737MAX production to 38/month. We still assume BCA will reach 38 in July. But, comments we heard from airlines at ISTAT suggested that could happen in May or June, with Southwest now saying April. April looks difficult to us, given production levels in March and February. This is still good news. China continues taking deliveries of inventoried airplanes in January and February (including 777Fs and a 787), which is positive for cash. But, we have not yet seen China deliveries in March. 777F deliveries have also picked up. Boeing may do asset sales, with Jeppesen likely ($7bn+?). How good these sales are will depend on price."

For an analyst ratings summary and ratings history on Boeing click here. For more ratings news on Boeing click here.

Shares of Boeing closed at $159.32 yesterday.

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