Baird analysts increased their price target for Boeing (NYSE:BA) to $300.00, up from the previous $250.00, while maintaining an Outperform rating. This adjustment follows November delivery checks, which indicated strong momentum for the company.

The analysis, based on proprietary delivery checks, revealed a noticeable increase in Boeing’s deliveries for November. The company delivered around 40 737-MAX aircraft, contributing to a total of approximately 50 aircraft across Boeing Commercial Airplanes (BCA) for the month. This brings the total deliveries for the fourth quarter of 2023 to 84, against a consensus expectation of 151 deliveries. To meet these expectations, Boeing would need to deliver 67 aircraft in December.

The analysts expressed confidence in Boeing’s ability to meet its guidance targets of 375-400 aircraft deliveries, citing robust activity on the 737-MAX flightline and the expectation that deliveries of this model will accelerate in December.

Looking ahead, the analysts are optimistic about Boeing’s prospects, anticipating that the company’s free cash flow (FCF) will continue to increase through the mid-decade. This outlook underpins the raised price target and the belief in the potential for further upside beyond the $300 mark.

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