Boeing Receives Upgrades as Joint Ventures Gain Momentum

Published 4 hours agoBA

Boeing Receives Upgrades as Joint Ventures Gain Momentum

Boeing has caught the attention of analysts with its recent strategic moves, including joint ventures that are expected to strengthen its competitive edge. Both Deutsche Bank and Goldman Sachs have upgraded their ratings for Boeing. Deutsche Bank now rates Boeing as a "Buy" with a price target of $270 due to faster aircraft deliveries and strong performance, while Goldman Sachs added Boeing to its "US Conviction List," rating it a "Conviction Buy" with a $258 price target, thanks to solid long-term fundamentals and consistent free cash flow.

Boeing has also made significant strides with its joint ventures. A partnership with Lockheed Martin in the United Launch Alliance plans to upgrade its Vulcan rocket, aiming to compete with SpaceX's Starship in the satellite launch market, according to Reuters. Additionally, Boeing and Embraer are forming a new joint venture to explore new markets and expand Boeing's global reach and technology capabilities.

In a move to enhance its manufacturing capacity, Boeing has selected a joint venture led by Paric Corp. and Barton Malow for a major expansion project in St. Louis, slated to begin in early 2024. This expansion is seen as crucial for supporting future defense contracts and signifies Boeing's commitment to strengthening its production infrastructure amidst a climate of renewed confidence in its strategies.

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