Why Boeing Is On Goldman Sachs' Conviction List

Boeing Co BA shares were climbing in early trading on Tuesday.

The demand for new aircraft remained strong for both narrowbody and widebody, according to Goldman Sachs.

The Boeing Analyst: Noah Poponak maintained a Buy rating on Boeing while keeping the price target unchanged at $258.

The Boeing Thesis: Several airlines have recently made commitments to buy Boeing aircraft, including from the Dubai Airshow, Poponak said in a note.

Check out other analyst stock ratings.

“China remains a potential incremental addition to demand, though the medium-term skyline remains full even if that does not come through soon,” the analyst wrote.

“We continue to believe Boeing new aircraft supply is well below demand, but that deliveries will ramp substantially through the end of 2023, into 2024 and beyond,” he added while mentioning that the stock is “on the Conviction List.”

BA Price Action: Shares of Boeing had risen by 1.48% to $207.57 at the time of publication Tuesday.

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Photo: Courtesy Boeing

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Posted In: Analyst ColorReiterationAnalyst RatingsairplanesExpert IdeasGoldman SachsNoah Poponak
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