Boeing has been upgraded to ‘buy’ from Bank of America analyst Ronald Epstein on June 2, 2025, citing the US manufacturer's turnaround this year as it delivers on its promises ramp up.
“Given the progress made under [Boeing CEO] Kelly Ortberg's leadership, we are confident in the company's turn around,” Epstein said.
In addition, the report cited the Trump Administration's recent deals, securing deals in Europe, Qatar, and the UAE, as well as the delivery ban lifted in China, allowing the country to import aircraft from the US.
Boeing secured an order for 32 new 787-10 Dreamliner aircraft from British Airways parent, while Etihad ordered 28 widebodies, consisting a mix of 787 and 777X aircraft, both in May. In addition, Qatar Airways made a massive order for up to 210 Boeing widebodies, including 130 787 Dreamliners and 30 777-9s. Options include up to 50 additional 787 and 777X airplanes.
Orders aside, Epstein said the company is progressing in stabilising its production rates.
However, the analyst noted that challenges do remain, including the FAA lifting its 737 MAX production cap of 38 per month, though Boeing expects to increase the cap to 42 later this year, with Ortberg stating recently that the cap could potentially increase to 47 by the end of the year. In addition, challenges include the re-integration of Spirit AeroSystems, and executing on defence programmes.
“Looking longer-term, BA will need to invest heavily in a new aircraft programme to confront market share losses to Airbus,” said Epstein.
He said Boeing will have to carefully maintain and navigate its rather complicated relationship with shareholders, customers and regulatory agencies.