Boeing (NYSE:BA) intends to speed up the production of its best-selling 737 Max aircraft in the near future, according to Reuters. By the end of 2026, the aerospace company’s output is likely to increase from the current level of 31 planes per month to 50.
The company has had a lot of issues in the past. Some of them included the 787 Dreamliner regulatory issues, the COVID-19 breakout, and the 737 MAX crashes. As a result, both models’ stock increased.
Nevertheless, Boeing’s business has recently gained traction due to the orders it has received from numerous airlines. Japan Airlines recently placed a Boeing order for 21 737-8 aircraft. Additionally, Air India placed an order for about 220 Boeing aircraft, including 190 737 Max models, 20 787 Dreamliners, and 10 777X models.
In the meantime, Boeing is making considerable progress with its new 737 MAX 7 model. The U.S. Federal Aviation Administration certification paperwork for the jet is currently being finalized. It’s important to note that the business intends to finish the formalities and send out its first delivery this year.
Is Boeing a Buy, Sell, or Hold?
BA stock has 11 Buys and six Hold recommendations for a Moderate Buy consensus rating. Moreover, analysts’ average price target of $232.81 implies a further upside potential of 10.32%. Shares of the company have gained about 8% so far in 2023.