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Investing.com - UBS has reiterated its Buy rating and $280.00 price target on Boeing (NYSE:BA) stock, currently trading at $215.34, citing recent Dreamlifter flight data tracked by UBS Evidence Lab. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $150 to $287.
UBS analyst Gavin Parsons noted that Dreamlifter flights, which transport structural pieces of the 787 in modified 747 cargo planes, historically correlate closely with 787 production rates, which are now exclusively assembled at Charleston. The company, currently valued at $162.7 billion, shows an overall weak financial health score according to InvestingPro’s comprehensive analysis, with 8 additional key insights available to subscribers.
Over the 30-day period ending October 10th, these flights declined by 5% year-over-year, implying a 787 production rate of 5.6 aircraft per month, down from 6.5 per month calculated a week earlier.
While flights have not yet achieved 7.0 per month this year, they have consistently remained around 6 per month since March, suggesting Boeing may be working down inventory, according to the research note.
Boeing recently announced plans to increase 787 production from 7 to 8 aircraft per month, with a further rise to 10 per month planned for next year, though UBS observed that Dreamlifter flights have outpaced calculated production rates, indicating a "still-large inventory balance."
In other recent news, Boeing has received approval from the Federal Aviation Administration to increase the production rate of its 737 MAX aircraft from 38 to 42 planes per month. This decision aligns with Boeing’s timeline to achieve this production level by the end of the year. Analysts from Bernstein have noted that a key performance indicator related to rework was essentially completed last month. Meanwhile, Boeing and the International Association of Machinists and Aerospace Workers are set to resume mediation talks to resolve a strike nearing its 12th week, with the Federal Mediation and Conciliation Service facilitating the discussions. In a related development, the machinists union has filed an unfair labor practice charge against Boeing with the National Labor Relations Board. This charge comes as over 3,200 workers, who assemble fighter jets and munitions, continue their strike in the St. Louis area. Additionally, a plane carrying U.S. Defense Secretary Pete Hegseth made an emergency landing in the UK due to a windshield crack, though all passengers, including Secretary Hegseth, were reported safe.
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