Global aerospace firm Boeing (BA) successfully completed the first flight of its 737-10 on June 19. Boeing’s 737-10 is the biggest plane in the 737 MAX range. Apart from airplanes, Boeing offers missiles, telecommunications equipment, rockets, rotorcraft and satellites.
“The profile we flew allowed us to test the airplane’s systems, flight controls and handling qualities, all of which checked out exactly as we expected,” said 737 Chief Pilot Capt. Jennifer Henderson, speaking about the flight.
Boeing plans to get regulatory certification for the plane before it enters service in 2023. The plane has a seating capacity of 230 passengers. Further, compared to Next-Generation 737 planes, 737-10 reduces carbon emissions and noise by 14% and 50%, respectively. (See BA stock chart on TipRanks)
Stan Deal, President and CEO of Boeing Commercial Airplanes said, “The 737-10 is an important part of our customers’ fleet plans, giving them more capacity, greater fuel efficiency and the best per-seat economics of any single-aisle airplane.”
Susquehanna analyst Charles Minervino recently maintained a Buy rating on the stock with a price target of $300 (26.4% upside potential). Minervino expressed his concern about light May orders and deliveries data, but he believes that a recovery in commercial flight activity across the world is likely to benefit Boeing.
Overall, the stock has a Moderate Buy rating based on 8 Buys and 7 Holds. The average analyst Boeing price target of $272.0 implies 14.6% upside potential from current levels. Boeing’s shares have gained nearly 26% over the last year.
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