- "We upgrade Boeing (NYSE:BA) to Market Perform and raise our target price to $229, up from $196," write Bernstein analysts in a new research note, as the stock climbs 0.7% premarket to $237.
- "We see less company specific risk now that Boeing controls 787 deliveries, 77X expectations have been reset, and free cash flow estimates have been brought down (after a $3.6B Q1 loss). We still view recovery for commercial aircraft OEMs as a long process, given a mixed global recovery path, amount of excess capacity in the market and performance challenges facing many airlines."
- "International traffic remains very low and vaccine rollouts stay uneven by country. This market view keeps us at Market Perform, as we are for Airbus (OTCPK:EADSY)."
- "When we downgraded Boeing to Underperform in January, it was for incremental downside due to 787 manufacturing problems, which we saw as much more serious than consensus. Those problems continued and were compounded by 777X delays. Now that Boeing is able to deliver 787s without FAA inspections and 777X issues are known, there should be fewer negative surprises. Boeing should now be able to deliver roughly 100 787s in 2021."
- Yesterday, Lufthansa agreed to order five Boeing 787-9 Dreamliners, taking the group's order book for the plane to 25.