Citi analyst Charles Armitage is opening a “30 day catalyst watch” on Boeing as he believes today’s meeting between U.S. President Joe Biden and Chinese Premier Xi Jinping “may open the door” to the company’s 737 MAX returning to commercial flight in China, one of the last countries not flying the Boeing aircraft despite an agreement reached last November as to the steps required by Boeing and the airlines to re-certify the craft. He regards the 737 MAX as the highest value program at Boeing, “worth about $80 per share,” and reintroduction into China would “materially reduce risk to the program,” said Armitage, who has a Buy rating on Boeing shares.
previous post