Deutsche Bank Reiterates Buy Rating on Boeing (BA)

Deutsche Bank analyst Scott Deuschle reiterated a Buy rating and $225.00 price target on Boeing (NYSE: BA).

The analyst comments "According to Cirium and public flight data, Boeing appears to have delivered 12 commercial aircraft month-to-date, 11 of which were 737 MAX aircraft and 1 787. Of the 11 MAX deliveries, 3 were out of long-term storage with the remaining 8 either fresh from the production line or out of WIP. In terms of variants, 1 MAX delivery was a -9 with the remaining 10 deliveries being -8 variants. The 787 delivery was a -10. Over the same number of days in May, Boeing delivered 4 737 MAX aircraft, vs. the 11 737 MAX aircraft delivered MTD in June. Real momentum does therefore appear to be building here. Unfortunately, this is not yet being supported by widebody momentum which has continued to be soft. In an effort to gain further visibility into Boeing's 737 aircraft production rate, we tracked departures from Renton. As of 6/12, June flight activity indicates about 14 aircraft having flown out of Renton month-to-date, suggesting momentum in assembly rates which is supportive of management's recent commentary. Overall, we are encouraged by the momentum continuing into June on the 737 MAX program, though we'd naturally prefer to see better deliveries on 777 and 787 as well."

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 $182.67 yesterday.

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