Currently climbing nearly 3%, Boeing (NYSE:BA) stock is one of the biggest winners in the Dow Jones Industrial Average today. This rally comes on news that the airplane maker has received a large order from Delta (NYSE:DAL).
According to CNBC, Delta ordered 100 Boeing 737 Max 10 planes “with options for 30 more.” This marks the first time in 10 years that the airline has booked a “fresh order” for Boeing’s aircraft. In addition to the Delta order, Boeing is also expected to receive an order of 10 freight planes from German airline Lufthansa (OTCMKTS:DLAKY).
Meanwhile, Boeing commercial executive Stan Deal said yesterday that the company is “very close” to starting to fulfill 787 Dreamliner orders. “I don’t think there will be extra innings added,” Deal remarked. The company has experienced a pause on orders for its 787 Dreamliner planes for almost two years.
Let’s dive into what one analyst thinks about BA stock.
BA Stock: Analyst Lowers Target, Remains Bullish
On July 15, Benchmark analyst Josh Sullivan slashed his price target on BA stock by 20%, from $250 to $200 per share. As for his reasons for this reduction, the analyst cited “concerns over the economic outlook, re-certification of 737 planes in China and 777x development times.”
That said, Sullivan still thinks Boeing’s deliveries are starting to rebound. The analyst kept a “buy” rating on shares despite cutting his target.
BA stock is currently up 10% in the last month. However, shares are also down 25% year-to-date (YTD).
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.