Boeing Co (NYSE:BA) announced the completion of the firm configuration milestone for the 777-9, the first member of the 777X family to be developed.
The Boeing 777X team reached this significant design milestone after working closely with airline customers and key suppliers to optimize the configuration of the new airplane.
The 777X family includes the 777-8 and the 777-9 – both designed to respond to market needs and customer preferences. The 777-8 and 777-9 provide significant range, payload and fuel burn advantages compared to the A350.
“It’s great to see the airlines and industry team side-by-side with us as we achieve this important milestone,” said Bob Feldmann, vice president and general manager of the 777X program, Boeing Commercial Airplanes. “The team has followed a disciplined process to complete all of the requirements for this stage of the program.”
The firm configuration milestone marks the completion of configuration trade studies required to finalize the airplane’s capability and basic design. Wind tunnel test results, aerodynamic performance and structural loads are also evaluated to ensure the airplane meets requirements. This allows the 777X team to begin detailed design of parts, assemblies and other systems for the airplane. As detailed designs are completed and released, production can begin.
“The program is right where we want it to be,” added Feldmann. “We have an airplane and production system that are on track and on schedule, and we remain laser focused on meeting our commitments to our customers.”
The 777X will be the largest and most efficient twin-engine jet in the world, with 12 percent lower fuel consumption and 10 percent lower operating costs than the competition. In addition, the 777X will bring cabin innovations and improved levels of passenger comfort.
The 777X program has received orders and commitments for 320 airplanes from six customers worldwide. Production is set to begin in 2017. (Original Source)
Shares of Boeing Company closed yesterday at $129.34. BA has a 1-year high of $158.83 and a 1-year low of $115.14. The stock’s 50-day moving average is $142.03 and its 200-day moving average is $145.23.
On the ratings front, Boeing has been the subject of a number of recent research reports. In a report released yesterday, Standpoint Research analyst Ronnie Moas initiated coverage with a Buy rating on BA and a price target of $160, which implies an upside of 23.7% from current levels. Separately, on August 24, Deutsche Bank’s Myles Walton maintained a Buy rating on the stock and has a price target of $175.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ronnie Moas and Myles Walton have a total average return of 6.7% and 4.8% respectively. Moas has a success rate of 69.1% and is ranked #22 out of 3734 analysts, while Walton has a success rate of 54.1% and is ranked #785.
The street is mostly Bullish on BA stock. Out of 11 analysts who cover the stock, 10 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $162.67, which represents a potential upside of 25.8% from where the stock is currently trading.
Boeing Co, together with its subsidiariesdesigns, develops, manufactures, sells and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services.