Bernstein SocGen Group Reiterates Outperform Rating on Boeing (BA)

Bernstein SocGen Group analyst Douglas Harned reiterated an Outperform rating and $298.00 price target on Boeing (NYSE: BA).

The analyst commented: "On the ground in Renton and Seattle - Where do 737MAX and free cash flow outlooks stand? This note describes takeaways from a visit to Puget Sound last week, which included touring manufacturing facilities for the 737MAX and discussions with senior management. The 737MAX appears on a track that is consistent with company statements at Q2 earnings and at our Strategic Decisions Conference. This means that the line is operating at 47/month, but with some blanks leading to a rollout rate that is slightly lower. Rollout is running with 2-3 737-10s per month, which leads to a gap in rollouts versus deliveries, as 737-10s will not be delivered until 2027. We expect the line to move to 52/month in H1 2027, requiring a 5/month rate on the new North Line in Everett. BCA is already staffed for the 52/month. The Everett line will ultimately go to 16/month, which will enable rates of 57/month and 63/ month. CEO Ortberg has said supply chain becomes a bigger issue at 57/month."

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 $234.42 yesterday.

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