Boeing Shares Soar as BNP Paribas Upgrade and FAA Certification Spark Optimism
Boeing's (BA) shares have been gaining momentum lately, outperforming the market thanks to two significant factors. Firstly, BNP Paribas upgraded its rating of BA from Underperform to Outperform, providing a boost to the company's stock price.
The second catalyst for BA's rise was the FAA's certification of Boeing's 737 Max 7, which is seen as a crucial step towards increased aircraft production levels in the coming quarters. This development aligns with the thesis of financial analysts who have been optimistic about BA's prospects.
As part of this thesis, analysts are looking for further confirmation that will come when the company announces its monthly commercial orders and deliveries on August 11. These figures will include wins from the recent Farnborough Airshow held in July, which is expected to provide a boost to BA's sales numbers.