NEW YORK (TheStreet) -- Shares of Boeing Co. (BA) are up 0.69% to $127.10 in pre-market trade after the company announced that Air China has committed to purchase 60 737s, including Next-Generation 737 and 737 MAX airplanes. The commitment when finalized will be valued at more than $6 billion at current list prices, Boeing said in a statement.
"Our long-standing and productive partnership with Air China dates back to the airline's beginning and we are proud the 737 has been part of their success," said Ihssane Mounir, VP of Sales and Marketing, Northeast Asia, Boeing Commercial Airplanes. "We are excited to see that the 737 family will play a significant role in Air China's continued success."
Boeing said the order will be posted on Boeing's Orders & Deliveries website once all contingencies are cleared.
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Separately, 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 revenue growth, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."