NEW YORK (TheStreet) -- Shares of Boeing Co. (BA) are up 1.85% to $124.24 as the company prepares to announce plans this fall to increase production of its single-aisle 737 jet, according to CFO Greg Smith, who said customers continue to pressure Boeing to increase production, and the company will be "addressing that in the next couple of months to come," the Wall Street Journal reports.
Smith said at the Jefferies Group (JEF) investor conference that Boeing had boosted its production rates across all airplane programs 17 times over the past four years, and still had another three to go, including one on its 737, the Journal said.
TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."