Global aerospace firm Boeing (BA) successfully completed the first flight of 737-10 on June 19, according to a report by NEWS18.COM. 737-10 is the biggest plane in the company’s 737 MAX range. Apart from airplanes, Boeing offers missiles, telecommunications equipment, rockets, rotorcraft and satellites.
The fight started at 10:07 a.m. from Renton Field in Renton, Washington, and reached Boeing Field in Seattle at 12:38 p.m.
737 Chief Pilot Capt. Jennifer Henderson said, “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.”
Boeing plans to get regulatory certification for the plane before it enters service in 2023. The plane has a passenger capacity of 230 people. 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, along with a price target of $300 (26.4% upside potential).
Minervino said 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 BA average analyst 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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