Boeing (BA) Net Orders Continue at Healthy Pace - Goldman Sachs

March 8, 2022 12:28 PM EST
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Price: $138.70 --0%

Rating Summary:
    24 Buy, 10 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 21 | New: 51
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Goldman Sachs analyst Noah Poponak reiterated a Conviction Buy rating and $307.00 price target on Boeing (NYSE: BA) after the company reported 37 gross orders, (5) outright cancellations, and 49 positive ASC 606 adjustments for the month of February. BA delivered 22 aircraft in the month, including 20 737-MAX and 0 787.

The analysts view on the news: "(1) Net orders continue at a healthy pace, positive for the 13th consecutive month, with continued gross orders and only (5) cancellations; positive ASC606 movement is also encouraging. We expect a global air travel recovery to continue, including an acceleration in business and international, driving further new order momentum. While higher fuel prices negatively impact airline profitability, higher crude historically has also driven new orders for more fuel efficient aircraft. (2) Deliveries included 20 MAX units, down from January and light of expectations, as China deliveries have not yet restarted, inventory clearance logistics are sorted, and production continues to ramp. There were 0 787 deliveries, which we expect to restart in 2Q."

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 $169.17 yesterday.

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