Analysts at the financial institution have upgraded Boeing shares from ‘equal weight’ to ‘overweight’ status.
A Boeing 777X at the Dubai Airshow. (Photo: AirlineGeeks | William Derrickson)
Analysts at London-based multinational bank Barclays are speculating that Boeing’s stocks could be on the uptick to recovery this year.
According to a Barron’s report, analysts led by Barclays Managing Director David Strauss recently upgraded Boeing shares from “equal weight” to “overweight” status and lifted its price target from $190 to $210. The analysts wrote that in a best-case scenario, Boeing’s stock could skyrocket anywhere between $270 to $290 per share if the company can speed up production and delivery for its 737 MAX and 787 jets.
As of Tuesday morning, Boeing stocks were trending upwards at $173.50 per share.
2024 was a difficult year for Boeing, which faced a devastating labor strike and government scrutiny over product quality and safety practices at the company. The Barclays analysis comes roughly one year after the door plug blew out from a Boeing 737 MAX 9 while it was in flight for Alaska Airlines.
While deliveries dropped by 34% in 2024 compared to the year prior, Boeing has stated it plans to boost production of its 737 and 787 jets this year and get back on track to meet its delivery goals.
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