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Boeing Co. (BA) - Get Boeing Company Report shares traded higher Tuesday after analysts at Jefferies raised their price target on the world's biggest planemaker despite its current issues with the 737 MAX.

Jefferies said the 737 MAX grounding will likely trim overall 2019 aircraft deliveries to around 438 units, down from a prior forecast of 508, and leave around 300 of the trouble aircraft in inventory by the end of the year.  However, Jefferies analyst Sheila Kahyaoglu thinks commercial demand will accelerate next year once the 737 MAX wins re-certification from the Federal Aviation Administration, and sees commercial deliveries of 1,507 next year and 931 in 2021. She also raised her price target on the group by $10 to $430 per share.

Boeing shares were marked 0.33% higher at the start of Tuesday to change hands at $381.71 each, a move that would mark a near 20% gain since mid-August.

Last month, Boeing lifted its forecast for aircraft demand in China, indicating the world's biggest airplane market would  need just under 8,100 new planes for its expanding fleet between now and 2038, an estimate that would bring around $1.3 trillion in sales at current list prices for both the company and its main European rival Airbus SE (EADSY) - Get Airbus SE Report .

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Boeing is also reportedly working on a major fix to the flight software linked to the 737 MAX that involves both flight control computers and will address concerns for the system raised by the FAA in June.

The fix is still expected to allow Boeing to hold to an October timetable for FAA approval, but deeper concerns with respect to the planemaker's exposure to China, as well as its deteriorating credit metrics, have pressured shares for most of the summer.

Boeing may soon find itself in the midst of a new controversy, however, later this week when the World Trade Organization rules that the U.S. may slap tariffs on around $11 billion worth of European-made goods after it ruled that rival planemaker Airbus received illegal state subsidies from the European Union.

The WTO ruling, which was made earlier this spring, may eventually be offset by a similar decision against Boeing, whom the European Union has accused of receiving unfair tax breaks in the state of Washington, early next year.