Boeing Gets A Price Target Hike From Bernstein After Historic Airplane Order From Qatar

Boeing Co. (BA) received a price target hike from Bernstein analysts after the company received a historic 210-airplane order from Qatar last week.

According to TheFly, Bernstein upped its price target for the stock to $249 from $218, implying an upside of more than 20% from current levels. The brokerage maintained its ‘Outperform’ rating on the stock.

Boeing’s stock was up 1% at the time of writing.

Noting that there is more risk in not owning the stock, Bernstein says that despite Boeing’s recent missteps, these recent developments support the upward movement in the stock.

“Last week, we saw large new widebody orders, a restart of deliveries to China, and support for defense programs, raising our confidence in Boeing’s growth path,” the brokerage said.

According to Koyfin data, the stock's 12-month average price target is $208.86, implying a 0.63% upside from current levels.

Of the 30 analyst calls, there are 20 ‘Buy’ or ‘Strong Buy’ ratings, nine ‘Hold,’ and one ‘Sell’ recommendation.

The deal, announced during President Donald Trump’s visit to Qatar and other Middle Eastern countries, is valued at $96 billion, according to the White House.

It includes 160 confirmed orders for the Boeing 787 Dreamliner and 777X, and an option to buy an additional 50 of these long-haul airplanes.

The 777X is still under development and is expected to be launched commercially by 2026, six years behind schedule.

Boeing revealed that, as of April 30, it had orders for 521 ‘777X’ aircraft and 828 ‘787’ aircraft.

Boeing’s stock has gained 17.15% year-to-date.

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