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China Airlines' Order for up to 24 787 Dreamliners is 'Important' for Boeing - Morgan Stanley

Stock Markets Sep 29, 2022 08:26AM ET
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© Reuters. China Airlines' Order for up to 24 787 Dreamliners is 'Important' for Boeing (BA) - Morgan Stanley
 
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By Senad Karaahmetovic

A Morgan Stanley analyst reiterated an Overweight rating and a $233 per share price target on Boeing (NYSE:BA) after the announcement that China Airlines (TW:2610) ordered up to 24 787 Dreamliners.

The deal is based on a firm order of 16 787-9 aircraft, with an option for an additional 8 units.

"We are excited to introduce the 787-9 Dreamliner into our operations as we continue to upgrade our fleet with more modern, fuel-efficient airplanes. Adding the state-of-the-art 787 will help us reduce carbon emissions, while also providing our customers with unmatched levels of comfort," said China Airlines Chairman Hsieh Su-Chien.

Ihssane Mounir, Boeing's senior vice president of Commercial Sales and Marketing, added:

"This is a milestone order in our continuing partnership with China Airlines, and the market-leading efficiencies of the 787 will play an important role in furthering the airline's sustainability efforts."

For the analyst, this order is “important for Boeing” taking into account the importance of the 787 business for the firm.

“We remain positive on the potential opportunity for further orders given the replacement opportunity in the market. We note that this incremental order for the 787 supports our positive view on the return of the widebody,” she wrote in a client note.

Her comments came just a day after she defended Boeing as China's risks seem to be “overdone.”

 
China Airlines' Order for up to 24 787 Dreamliners is 'Important' for Boeing - Morgan Stanley
 

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