Updated today: December 12, 2025 — Boeing stock (NYSE: BA) ended Friday’s session at $204.38, up about 1.8% on the day, as investors weighed a fresh FAA certification headline against a busy week of operational and defense-program developments. [1]
For Boeing, the market’s focus remains consistent: can the company keep stabilizing quality, clear certification milestones on the 737 MAX 7 and MAX 10, and convert a strong order environment into sustained cash generation? This week delivered several new data points—some encouraging, some still unresolved.
Below is a detailed recap of what moved Boeing stock this week, what Wall Street is forecasting now, and what to watch for BA shares in the week ahead.
Boeing stock this week: where BA stands after the Dec. 12 close
Boeing shares closed $204.38 on Dec. 12, trading in a roughly $201–$206 intraday range with volume near 6.9 million shares. [2]
Zooming out:
- Over the last five trading days, BA is up about 1.23%. [3]
- Over the past month, BA is up about 4.54%. [4]
- Year-to-date, BA is up about 15.47%. [5]
- BA remains about 15.8% below its 52-week high of $242.69, but well above the 52-week low of $128.88. [6]
That price action reflects a stock still in “turnaround mode”: investors are willing to pay up for credible execution signals, but quick to reprice on any hint of regulatory friction or program risk.
The biggest Boeing headlines driving BA stock right now
1) FAA to review Boeing’s proposed cockpit alerting system for the 737 MAX 10
The most market-sensitive headline late this week was the FAA saying it will review Boeing’s proposed enhanced cockpit alerting system for the 737 MAX 10. The proposal includes a synthetic angle-of-attack system and the ability to shut off certain alerts (stall warning and overspeed alerts). [7]
Why it matters for investors:
- Certification timing is a valuation lever for Boeing. MAX 10 approval affects production/delivery mix, customer schedules, and ultimately cash flow.
- The FAA action sits within the framework of a 2022 congressional waiver that allowed MAX 7 and MAX 10 to proceed without meeting new cockpit alerting requirements immediately—as long as safety upgrades are completed within three years of MAX 10 certification. [8]
- The FAA also signaled it will certify design changes and oversee Boeing’s updates across MAX variants, reinforcing that Boeing’s path forward is still tightly linked to regulatory confidence. [9]
Investor takeaway: this is not “just paperwork.” Any incremental certification complexity can ripple into delivery schedules—especially with airlines already pushing timelines outward (more on that below).
2) Spirit AeroSystems acquisition closes—Boeing brings a critical supplier back in-house
Earlier in the week, Boeing completed its long-anticipated acquisition of Spirit AeroSystems, a deal positioned as a major supply-chain reset after years of quality and schedule problems in key structures like 737 fuselages. [10]
What Boeing says it changes:
- Spirit’s Boeing-related commercial operations (including 737 fuselages and structures for 767, 777, and 787) move inside Boeing. [11]
- Boeing also brings Spirit’s aftermarket activities into Boeing Global Services and created Spirit Defense to continue supporting defense and space programs with independent governance. [12]
- Boeing said about 15,000 employees across several Spirit sites are becoming part of Boeing. [13]
Why the market cares:
- Boeing’s manufacturing recovery has been constrained by supplier quality and flow, and Spirit has been repeatedly cited as a pain point in the aerospace supply chain. [14]
- The deal required competition-related remedies, including divestitures involving Airbus, underscoring how strategically sensitive aerostructures have become. [15]
Investor takeaway: this is a “control the inputs” move. If Boeing can improve quality and cadence by owning more of the fuselage value chain, it supports the bull case. But integration is hard—and markets will watch for disruption risk.
3) November deliveries fell—but Boeing posted a big month of orders, including 777X demand
Boeing reported 44 deliveries in November, down 17% from October (53). [16]
The more constructive side of the update was demand:
- Boeing booked 164 gross orders in November and 126 net orders after cancellations. [17]
- The order mix was notable: Boeing recorded 74 orders for the 777X widebody program. [18]
- Boeing’s backlog stood at 6,019 airplanes at the end of November. [19]
The deliveries-versus-orders split matters because, in aerospace, orders support multi-year revenue visibility, but deliveries drive near-term cash. The market generally wants to see Boeing convert its backlog into aircraft shipped—safely, consistently, and without rework surprises.
4) Air Force One program delayed again—mid-2028 now the target
Boeing’s defense narrative got more complicated Friday after reports that the first of two new Air Force One aircraft is now expected around mid-2028, extending a long-running schedule slip on the 747-8-based program. [20]
Key details that matter for BA shares:
- The program was originally awarded as a roughly $3.9 billion contract in 2018, with Boeing absorbing significant charges since then (reported at $2.4 billion). [21]
- Boeing recently appointed a new program leader, highlighting management focus—yet also signaling continued execution risk. [22]
Investor takeaway: commercial aviation drives Boeing’s largest upside, but defense execution still influences sentiment—especially when high-profile programs raise the specter of additional cost pressure.
5) Industry backdrop: Boeing is gaining in the “orders race,” even as Airbus leads in deliveries
In a closely watched competitive signal, Airbus’ CEO said Boeing is likely to surpass Airbus in net aircraft orders for 2025, which would end Airbus’ five-year run leading that metric. [23]
The numbers referenced are striking:
- Boeing: 908 net orders through November (and 1,000 gross)
- Airbus: 700 net orders through November [24]
However, Airbus remains ahead in deliveries and maintains a larger backlog (Airbus cited around 8,658), a reminder that Boeing still has ground to make up in operational throughput. [25]
Meanwhile, the head of IATA said Boeing’s delivery performance has been improving, while confidence in Airbus has weakened after separate operational issues surfaced at Airbus. [26]
Investor takeaway: Boeing’s demand picture is getting better—especially on widebodies—yet the stock’s next leg depends on translating that demand into reliable production and deliveries.
Wall Street forecasts: what analysts are saying about Boeing stock now
Citi initiates Boeing at “Buy” with a $265 price target
A key “forecast catalyst” this week was Citigroup initiating coverage on Boeing with a Buy rating and a $265 price target—implying about 32% upside from the referenced close. [27]
Citi framed Boeing as a “turnaround” story, tying confidence to leadership execution and long-term cash flow expectations. [28]
Broader consensus: “Moderate Buy,” but with a wide range
MarketBeat’s compilation shows a “Moderate Buy” consensus rating and an average price target around $232.96, with targets ranging widely (including bearish targets near $150 and bullish targets around the mid-$260s). [29]
What the range tells you: the Street agrees Boeing has real upside if execution continues, but there is still meaningful disagreement over how quickly Boeing can normalize deliveries, certification, and defense margins.
Boeing’s operational roadmap: the milestones investors are pricing in
1) Free cash flow is back in focus, and management is pointing to improvement
Boeing’s CFO said the company expects positive free cash flow in 2026—“low single digits” in billions—after a projected ~$2 billion cash outflow in 2025. [30]
From Boeing’s Dec. 2 conference transcript:
- The CFO described a path toward positive free cash flow next year and tied the formula to delivery growth at Commercial Airplanes (BCA), improving performance at Defense, and continued growth at Global Services. [31]
- He also reiterated confidence that $10 billion of free cash flow for Boeing is “attainable,” while noting it depends on completing certification programs and achieving higher production rates. [32]
This matters because Boeing’s equity narrative has shifted from survival to cash generation and deleveraging.
2) Delivery ramp: 737 and 787 cadence is the engine of the turnaround
Boeing’s CFO said Boeing expected 737 deliveries in the 440–450 range for 2025, including roughly 50 aircraft delivered from inventory, and that deliveries should increase in 2026 with far less inventory contribution. [33]
On production cadence:
- Boeing is working to stabilize 42 per month on the 737 and 8 per month on the 787, before thinking about the next rate increases. [34]
- The FAA has said it conducted extensive reviews before allowing a production rate increase, with oversight measures unchanged. [35]
3) MAX 7 and MAX 10 remain the critical certification swing factors
Even with improving production rhythm, certification remains the gating item for product mix and delivery planning:
- Southwest Airlines’ CEO publicly expected MAX 7 certification around August 2026, with entry into service in early 2027. [36]
- Boeing’s CFO said Boeing expects 737-10 certification later next year, and also noted the company would likely build MAX 10 aircraft in 2026 but might not deliver all of them depending on certification timing. [37]
4) 777X: incremental progress, but the program remains a long-duration risk
The 777X story is a blend of “progress” and “hangover”:
- Boeing reported a major pre-tax charge of $4.9 billion on the 777X program in its Q3 results. [38]
- Boeing’s CFO said a key approval milestone (TIA 3) was received in November and described it as roughly 30% of the flight test program’s approval package, with testing beginning. [39]
- He also discussed cash impacts extending for years as deliveries occur. [40]
Risks that could move BA stock quickly
Boeing’s improving narrative doesn’t eliminate headline risk. The market is still highly sensitive to these buckets:
- Regulatory and certification risk
FAA review steps (like this week’s MAX 10 alerting-system scrutiny) can extend timelines or impose retrofit/operational requirements that affect deliveries and customer plans. [41] - Quality and production discipline
The FAA has emphasized ongoing oversight of Boeing production processes and safety management systems. [42] - Integration risk from Spirit
Bringing 15,000 employees and multiple facilities into Boeing can help long-term stability, but integration can also create short-term execution noise. [43] - Defense and space program volatility
High-profile programs—Air Force One, Starliner, and legacy defense contracts—can create margin pressure when timelines slip or requirements evolve. [44]
Boeing stock week ahead: what to watch next week (Dec. 15–19)
Here are the catalysts most likely to influence BA shares in the coming week:
1) Any follow-on detail from the FAA’s MAX 10 alerting review
The FAA announcement is the headline; the market’s next question is process and pace—what data the FAA requests, what timeline is implied, and whether any additional changes expand scope beyond the MAX 10. [45]
2) Spirit integration signals: stability vs disruption
With the deal closed, investors will look for early indicators that Boeing is improving flow and quality in the 737 fuselage supply chain—without production stoppages or labor complications. [46]
3) Delivery momentum into year-end
December deliveries won’t be reported until early January, but the market often trades expectations. With Boeing targeting delivery growth into 2026, any credible signals about near-term delivery cadence can swing sentiment. [47]
4) Defense program headlines remain “always on”
The Air Force One schedule slip is likely not the last datapoint investors will see. The question is whether Boeing can ringfence defense execution risk while the commercial side recovers. [48]
5) Technical levels traders are watching
With BA hovering near $200, traders tend to treat round numbers as psychological support/resistance—especially in a stock that is still headline-driven. Data providers also note key moving averages in this zone, keeping the stock sensitive to news flow. [49]
Bottom line: Boeing’s setup is improving, but certification headlines still run the tape
As of Dec. 12, Boeing stock is trading like a classic industrial turnaround: better demand signals, clearer supply-chain control after Spirit, improving cash flow confidence—yet still constrained by certification and high-profile program execution risk. [50]
For the week ahead, watch the FAA narrative on MAX 10 (and broader MAX certification progress) first. If that stays constructive, the market’s focus is likely to swing back to the core bullish drivers: delivery growth, free cash flow, and deleveraging into 2026. [51]
References
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