Wolfe Research says that aside from the name association of being a Boeing 737, or more specifically a 15-year-old 737-800, the tragic crash of Jeju Air flight 2216 should have no read-through to Boeing’s (BA) stock and the company’s “current struggles to ramp up its production” of the 737 MAX. The accident’s root cause could be among several factors, but workmanship and design “aren’t likely in the mix,” the analyst tells investors in a research note. “That said, commercial aerospace’s infrequent but sometimes catastrophic accidents are a reminder of the unique headline risk to aircraft makers,” contends Wolfe. The firm points out there was another 737, or more specifically a 24-year-old 737-800. that also experienced a runway excursion over the weekend after an apparent hydraulic failure limited that pilots’ ability to control the plane upon landing. This too should have no negative read-through to Boeing, says Wolfe. Nor should the tragic Christmas likely shoot-down of an Azerbaijan Embraer E190 be seen as anything other than a tragic accident unrelated to the manufacturer or its operator, it adds. The firm keeps Outperform ratings on Boeing and Embraer (ERJ).