The Boeing Company BA shares are trading higher on Thursday. It was announced that the company's P-8A Poseidon was chosen by Canada as its Multi-Mission Aircraft.
What To Know: On Thursday afternoon, the news broke that Canada signed a Foreign Military Sales Letter of Offer and Acceptance for up to 16 Boeing P-8A Poseidon aircraft. The selection of the maritime patrol and reconnaissance aircraft is part of the Canadian Multi-Mission Aircraft (CMMA) project, with first delivery anticipated in 2026.
The win comes on the heels of an already victorious November for Boeing, with the company's announcement of securing contracts with several Middle Eastern airlines in the middle of the month, as well as Ethiopian Airlines' order of 67 Boeing jets.
An recent upgrade from Deutsche Bank analyst Scott Deuschle from Hold to Buy, and the announcement of a $270 price target, also boosted the stock during the month, as well as RBC Capital analyst Ken Herbert's upgrade from Sector Perform to Outperform, and price target increase from $200 to $275.
Related Link: Salesforce Sees Strong Opportunity From Continued AI Adoption; 10 Of 12 Analysts Raise Their Forecasts
BA Price Action: Shares of BA were up 2.82% at $230.77 at the time of writing, according to Benzinga Pro.
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