Boeing Stock Soars on Rare Double Upgrade and 737 MAX 7 Certification

Boeing's stock price surged nearly 7% on Monday after receiving a rare double upgrade from BNP Paribas. The brokerage firm upgraded Boeing to 'Outperform' from 'Underperform' and increased its price target to $300, implying an upside of almost 39% from Friday's close.

The FAA also certified the long-delayed 737 MAX 7, removing a key regulatory hurdle for the aircraft. This approval follows years of work by Boeing to resolve complex technical issues and complete a thorough review of the airplane's design and supporting safety analyses.

BNP Paribas analyst Matthew Akers said that 'if it's a Boeing, I'm going (to invest)', highlighting his confidence in the company's turnaround narrative. The brokerage firm believes that Boeing's risks will decline over the coming year as it completes aircraft certifications and continues to deleverage its balance sheet.