Airplane giant Boeing (NYSE:BA) won an upgrade from Deutsche Bank on confidence its 737-MAX problems are behind it.

Shares rose $3 each in pre-market trading on Nov. 20. BA stock was trading at $211 per share, a market capitalization of $127.6 billion.

Boeing is now up 10% on the year, rising 17% in the last month.

Blue Skies Smiling on Me

Boeing has been under pressure for five years since 346 passengers died in two crashes of the 737-MAX in 2018. A 20-month grounding of the plane followed, costing an estimated $20 billion. Indirect losses came to $60 billion with order cancellations.

But the problems now seem to be fixed, according to Deutsche Bank analyst Steve Deuschle. The aircraft maker should deliver 520 planes this year and over 800 in 2025. The company last delivered over 800 planes in 2018. Deuschle’s new price target for Boeing is $270 per share.

Three-quarters of analysts now rate Boeing a buy, compared with just over half for the average S&P 500 stock. Boeing recently beat rival Airbus (OTCMKTS:EADSY) for orders at the annual Dubai Air Show, its first win there since 2017.

Credit for the win in Dubai went to the wide-body 787 Dreamliner. Boeing landed a Dreamliner on the Antarctic ice on Nov. 18. The Dreamliner can carry 300 passengers.

There is growing optimism inside the company as well. CEO Dave Calhoun, who took over just before the Covid-19 pandemic, now insists travel demand has recovered from the crisis. Boeing is also one of the largest military contractors in the U.S., and demand there is also strong.

BA Stock: What Happens Next?

Expect Boeing stock to keep rising. The company reported a loss of $2.70 per share in its third quarter, but cash flow was positive. Expect profits to return next year.

As of this writing, Dana Blankenhorn 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.