Wells Fargo raised its price target for Boeing (NYSE:BA) to $270 from $250 per share in a note Tuesday, maintaining an Overweight rating on the stock.
Analysts told investors that Yiping Ke, the Executive Director at lessor CMIG Aviation Capital, said in a webinar held by the firm that 737 MAX deliveries to China would resume sometime later this year.
Ke, who works directly with airlines in China, noted some operators are preparing for deliveries in the September to November timeframe, wrote the analysts.
"While no one event is set as a catalyst, he noted the recent visit between Boeing's Stan Deal and Chinese aviation authority head, with other high-level meetings ongoing," added the analysts.
"Mr. Ke believes it is feasible Boeing could deliver the ~85 remaining 737s already built for China by 2024," they concluded.