There are not many days when the news is all—or even mostly—good for aerospace stock Boeing (BA). Today, however, was one of those days. Several new orders have landed at Boeing, and with its production operations back up and running, some of these may get filled soon. That was good enough for investors, who sent Boeing shares up over 3.5% in Thursday afternoon’s trading.
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First came a hefty new order for the 737 Max jet, announced by Boeing itself. The deal featured Pegasus Airlines ordering 100 737-10 jets, and having an option for as many as 100 more besides. Pegasus has been using Boeing 737 Classic models for close to 35 years now, and it has been putting them actively to work to expand their reach throughout Europe and into Asia, Africa, and the Middle East besides.
Meanwhile, Boeing also delivered—noted a report from 1945—its first representatives of Lot 2 of the F-15EX Eagle II fighter. Also known as the EX-09, the new fighters will help modernize the United States Air Force, which was looking to replace its F-15C / D models. With the new fighters, pilots get access to several new features, starting with improved radar and electronic warfare systems, as well as 28% larger payload.
The Only Joker in the Deck
The closest news that could even be considered backhanded good news for Boeing was a sale to China Airlines. The China Airlines deal was worth $11.9 billion, a Reuters report noted, and Boeing sold 10 777-9 aircraft, along with four 777-8 freighter aircraft, in the process. However, the deal did not go all Boeing’s way.
As part of the same deal, China Airlines also picked up 10 A350-1000 planes from immediate rival Airbus (EADSY). Deliveries for both are said to start in 2029, so Boeing has about four years to get these planes together and get them delivered, lest the Chinese decided that Airbus is looking better than they thought.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 12 Buys, seven Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 31.05% loss in its share price over the past year, the average BA price target of $189.41 per share implies 6.53% upside potential.
