Boeing price target raised to $270 from $250 at Wells Fargo

Wells Fargo analyst Matthew Akers raised the firm’s price target on Boeing to $270 from $250 and keeps an Overweight rating on the shares. The firm hosted a webinar with Yiping Ke, Executive Director at lessor CMIG Aviation Capital, who works directly with airlines in China. Ke’s view is that 737 MAX deliveries to China will resume sometime later this year, and noted some operators are preparing for deliveries in the September to November timeframe. While no one event is set as a catalyst, he noted the recent visit between Boeing’s Stan Deal and Chinese aviation authority head, with other high level meetings ongoing. Ke believes it is feasible Boeing could deliver the 85 remaining 737s already built for China by 2024.