BNP Paribas Boosts Boeing with Rare Upgrade as FAA Certifies 737 MAX 7

Boeing Co.'s (BA) stock jumped nearly 7% on Monday after receiving two positive developments. BNP Paribas upgraded Boeing to 'Outperform' from 'Underperform', with a price target of $300, which represents an upside of nearly 39% from Friday's close.

The FAA certified the long-delayed 737 MAX 7, clearing the way for airlines to begin introducing the aircraft into service. The certification is seen as a major milestone in Boeing's recovery narrative, and analysts believe it will drive inventory liquidation and improve operational stability over the next year.

BNP Paribas analyst Matthew Akers said, 'If it's a Boeing, I'm going (to invest),' highlighting the company's growth prospects. The brokerage also sees a multi-billion-dollar tailwind from higher 737 MAX production as aircraft output ramps up.