Boeing’s Production Figures Indicate Output Ramp Efforts ‘Continue To Hold’ — Analyst

Boeing’s (BA) production figures from May were viewed positively by analysts on Wall Street.

The aerospace giant said on Tuesday that it had produced 38 737 Max jets in May, a number it had been trying to hit for well over a year.

The company aims to maintain current production levels for a few more months before requesting that the U.S. Federal Aviation Administration lift a production cap, which has limited Boeing to producing not more than 38 of the best-selling jets per month.

Boeing also booked 303 new aircraft orders and delivered 45 in May, a sharp increase from 24 in the same month a year earlier.

Goldman Sachs analysts maintained a ‘Buy’ rating on the stock, according to TheFly. The brokerage reportedly said that the figures released by Boeing have indicated that product quality improvements and production ramp efforts continue to hold.

Susquehanna analysts noted that the 737 Max deliveries stand at 62 after the first two months of the second quarter, keeping the company on track to meet the brokerage’s expectations of 95 deliveries for the quarter.

Retail sentiment on Stocktwits was in the ‘bearish’ (44/100) territory, while retail chatter was ‘normal.'

Separately, Donald Trump’s FAA administrator nominee, Bryan Bedford, vowed to hold Boeing “accountable to deliver a high-quality product safely” on Wednesday.

This comes after FAA’s acting head, Chris Rocheleau, said last week that the production cap on Boeing 737 Max will stay in place.

One trader speculated that there would be a pause ahead of the Paris Air Show next week.

Boeing stock has gained 20% this year.

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