Avolon Orders 140 Boeing 737 MAX Jets in 250-Aircraft Deal
BA is trading near its 52-week low of $176.77 (7.5% above the low).
Summary
Avolon placed a firm order for 140 Boeing 737 MAX jets as part of a broader 250-aircraft package split with Airbus, subject to Bohai Leasing shareholder approval expected by end of October. This is a substantial order for Boeing's commercial division, adding to a string of recent wins including SMBC Aviation Capital's 100-jet order in July. Barclays initiated coverage with an Overweight rating and $300 price target, while TD Cowen trimmed its target to $240 but kept a Buy. Boeing shares rose 1.26% to $190.12 on the news. The order reinforces demand for the 737 MAX as production ramps up, though the deal is contingent on shareholder approval.
At the time of this announcement, BA was trading at $189.97 on NYSE in the Manufacturing sector, with a market capitalization of approximately $150.1B. The 52-week trading range was $176.77 to $254.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.