Boeing's Big Week: Boeing Stock (NYSE:BA) Notches Up After Great Week in Dubai
Boeing's stock (NYSE:BA) saw a fractional boost after securing over 150 aircraft orders at the Dubai Airshow, including major deals with Emirates and flydubai. Additionally, Boeing received a $877.7 million contract from the US Special Operations Command for MH-47G helicopters. Analysts maintain a Strong Buy consensus on Boeing stock, with a 38.52% upside potential based on recent performance and future prospects.
And so, another Dubai Airshow comes to an end, and with it, the chance for aerospace stock Boeing (BA) to come out ahead. While it may not have beaten rival Airbus (EADSY) outright, it put on a good showing and moved a lot of aircraft. This was good enough for investors, who gave Boeing stock a fractional boost in Friday afternoon's trading.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Boeing pulled in a laundry list of orders from the Dubai Airshow. Of course, we already know about the Emirates order, that provided a serious win and featured not only 65 777-9 orders, but also an outright request to add a class pending the results of a feasibility study. We also heard about Boeing landing orders with Ethiopian Airlines as well. Boeing's flydubai order might have been the biggest feather in Boeing's cap.
Beyond that, Boeing pulled orders with Air Senegal, Gulf Air, and several others as well. All told, reports note, Boeing pulled a combined total of over 150 direct commitments and options for several more besides, making the Dubai Airshow a big win. However, Airbus ended up with the bigger win, as it landed commitments for over 230 aircraft at this event.
Wins Outside the Show
Boeing landed another win elsewhere, though, as the United States Special Operations Command put in an order for an "undisclosed number" of MH-47G helicopters. The contract is valued at $877.7 million, reports note, and came on top of an order for five MH-47G helicopters valued at $240 million back in March.
Once the contracts are filled, reports note, Special Operations Command will have over 50 such helicopters at its disposal. Since the MH-47G is a "heavy-lift rotorcraft," it should be able to provide a range of functions from troop transport to supply runs.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 13 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 20.16% rally in its share price over the past year, the average BA price target of $250.50 per share implies 38.52% upside potential.
