Boeing Stocks Soar on Double Upgrade and FAA Certification

Boeing's stock price surged nearly 7% on Monday after receiving two positive developments from analysts and regulators. BNP Paribas upgraded Boeing to 'Outperform' from 'Underperform', with a new price target of $300, representing a 39% upside from the previous close.

The upgrade comes as the FAA certified the long-delayed 737 MAX 7, clearing a major regulatory hurdle for the aircraft. BNP Paribas analyst Matthew Akers stated that the post-COVID era of uncertainty for Boeing is over, with certifications expected to drive inventory liquidation and improve operational stability.

The firm also sees a multi-billion-dollar tailwind from higher 737 MAX production as aircraft output ramps up. Boeing's risks are expected to decline over the coming year as it completes aircraft certifications and continues to deleverage its balance sheet.