Boeing: Goldman Sees Minimal Impact From China Delivery Freeze, Points To Strong Asia Demand

Goldman Sachs analyst Noah Poponak retained a Buy rating on Boeing Company BA with a price forecast of $213.

The analyst noted that Chinese airlines were instructed to halt further Boeing jet deliveries amid ongoing U.S.–China trade tensions.

Poponak expects it to have minimal impact on Boeing, as China has largely ceased taking deliveries and placing orders since the Trump administration.

Notably, since January 2018, Chinese customers have ordered only 28 aircraft (excluding unidentified buyers), and China currently represents just 2% of Boeing's large, sold-out backlog through 2030, adds the analyst.

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He noted that as of December 31, 2024, Boeing had approximately 40 737 MAX 8 aircraft in inventory designated for Chinese customers. The analyst estimates that around 15 of these have been delivered in 2025, leaving roughly 25 still in inventory.

Poponak believes Boeing could likely redirect these jets to other carriers in Asia, particularly to fast-growing markets like India, which continue to show strong demand for narrowbody aircraft.

The analyst says Boeing previously indicated that it can sustain a multi-year delivery schedule without Chinese orders, thanks to substantial growth and replacement needs from other regions.

Investors can gain exposure to the stock via the iShares U.S. Aerospace & Defense ETF ITA and the First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF MISL.

Price Action: BA shares are up 0.86% at $156.86 at the last check on Wednesday.

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