The investment bank initiated the stock with a buy rating accompanied by a $275 per share price target.
Rising flight demand should propel Boeing shares higher, according to UBS. The investment bank initiated the airplane maker with a buy rating accompanied by a $275 per share price target. UBS' forecast implies 42% upside from Tuesday's $193.53 close. Shares of Boeing have ticked 1.6% higher in 2023, although a series of manufacturing flaws caused a nearly 20% sell-off over the past two months.
BA YTD mountain BA YTD stock chart "The fundamental demand backdrop for aircraft is strong, and the 20% pullback in the stock over the past two months prices in a significant amount of near-term supply chain risk," he wrote. Parsons also said Boeing will benefit as global flight demand grows by 5% each year going forward. As demand outpaces supply, the analyst forecasts 2,500 annual new aircraft deliveries by 2030.
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