Updated December 10, 2025
Boeing Company (NYSE: BA) remains in the spotlight as investors digest a whirlwind of news: fresh November delivery numbers, the completed Spirit AeroSystems acquisition, bullish analyst calls for 2026, and new technology trials with United Airlines.
As of mid‑afternoon trading on December 10, Boeing stock is changing hands around $199.71, down about 0.3% on the day but still sitting near recent highs after a sharp rally earlier this month.
Against this backdrop, the broader aerospace narrative has shifted: Airbus’ own chief executive now concedes Boeing is likely to win the 2025 order race – a symbolic turning point after several crisis‑ridden years for the U.S. planemaker. [1]
Below is a detailed look at what today’s news means for Boeing stock, its fundamental outlook, and how Wall Street is currently valuing BA shares.
Boeing stock price and recent momentum
Over the last month, Boeing stock has quietly outperformed its peer group. According to a Zacks analysis, BA shares gained about 2.1% over the past month, while the broader aerospace‑defense industry slipped roughly 3.3% in the same period. [2]
That advance came in two stages:
- Early December surge: On December 2, Boeing’s CFO Jay Malave told a UBS conference that the company expects positive free cash flow in 2026, helped by higher deliveries of 737 and 787 jets. The comments sent Boeing shares up roughly 10% in a single session, making BA the best performer on the S&P 500 that day. [3]
- Short‑term pullback: After the rally, profit‑taking set in. A separate Zacks note flagged that BA closed at $200.37 on December 9, down about 2.9% on the day and underperforming the S&P 500. [4]
Even with today’s modest decline, BA is still trading close to that $200 mark – a level that now acts as a psychological pivot for short‑term traders watching Boeing stock.
November 2025 deliveries: slower month, but a stronger year
Boeing’s November 2025 orders and deliveries data has become the key fundamental talking point for BA stock this week.
What the latest delivery numbers show
According to Boeing’s monthly update and Reuters reporting, in November 2025 the company: [5]
- Delivered 44 jets, down from 53 in October (a 17% month‑over‑month decline).
- Shipped 32 Boeing 737 MAX aircraft, including five to Southwest Airlines.
- Delivered six 787 Dreamliners (two 787‑10s to TAAG Angola Airlines).
- Handed over two 777 freighters (to Turkish Airlines and Aerotranscargo) and four 767s.
On the orders side, November was anything but weak:
- 164 gross orders and 38 cancellations for 126 net new orders.
- These included 74 orders for the long‑delayed 777X widebody, led by Emirates’ blockbuster purchase of 65 aircraft at the Dubai Airshow and nine more from China Airlines. [6]
- 30 new 787 orders, including 15 from Gulf Air, eight from Uzbekistan Airways, six from Etihad and one undisclosed customer.
- 43 orders for 737 MAX jets from undisclosed buyers.
- Military side: 15 KC‑46A tankers for the U.S. Air Force plus two additional 777 freighters. [7]
Year‑to‑date: a big rebound vs 2024
The real story is in the year‑to‑date numbers. Through November 30, Boeing has: [8]
- Delivered 537 jets (396 737 MAXs, 74 787s, 33 777s and 28 767s).
- That’s up from 318 deliveries at the same point in 2024, a ~69% year‑over‑year increase.
- Booked 1,000 gross orders, or 908 net orders after cancellations, with an aircraft backlog of 6,019.
Industry groups are taking notice. The head of the International Air Transport Association (IATA), Willie Walsh, said this week that airlines now see “significantly improved” delivery performance from Boeing, while confidence in Airbus’ delivery targets has softened amid ongoing supply‑chain issues. [9]
Airbus CEO admits Boeing could win 2025 order race
In a striking public admission, Airbus CEO Guillaume Faury told French radio that Boeing is likely to beat Airbus on net aircraft orders in 2025, ending Airbus’ five‑year winning streak. [10]
Key takeaways from his comments:
- Through November, Boeing had 908 net orders, versus about 700 for Airbus. [11]
- Airbus still leads in deliveries and has a larger backlog, but Boeing’s long‑haul 787 family has been selling strongly.
- Faury noted that U.S. trade negotiations helped steer some orders toward Boeing this year, particularly in Asia, as governments used plane deals to ease tariff disputes. [12]
For BA shareholders, the headline is symbolically powerful: after years of being on the defensive, Boeing is now talked about as the order‑book winner for 2025 – even by its main rival.
Spirit AeroSystems acquisition: fixing the supply chain from the inside
Another major catalyst for Boeing stock this week is the closing of its acquisition of Spirit AeroSystems, a key fuselage and structures supplier whose quality problems were at the centre of several 737 MAX issues.
According to Reuters, Boeing has now completed its $4.7 billion all‑stock purchase of Spirit, a deal valued at around $8.3 billion including debt. [13]
Important aspects of the transaction:
- Boeing is taking back most of the former Boeing operations inside Spirit, including 737 MAX and 787 structures.
- European rival Airbus will assume control of several Spirit factories that mainly serve Airbus programmes, after a complex three‑way carve‑up.
- The deal brings more than 15,000 Spirit employees back under the Boeing umbrella. [14]
Investors generally see the move as short‑term painful but strategically necessary:
- Near term, the integration will likely weigh on margins and require heavy investment to address past production and quality issues.
- Over time, consolidating critical work in‑house should give Boeing more control over 737 MAX and 787 quality, production stability and cost, reducing one of the key risks that has hung over BA shares since 2019. [15]
Technology & sustainability: Boeing–United ecoDemonstrator tests
Not all of today’s Boeing headlines are about financial metrics. The company also announced that it has completed advanced digital communications tests with United Airlines on a 737‑8 ecoDemonstrator Explorer aircraft. [16]
Highlights from Boeing’s December 10 press release:
- A United 737‑8 served as the 2025 ecoDemonstrator Explorer, operating test flights from Houston and Edinburgh.
- The project evaluated Internet Protocol Suite (IPS) standards – essentially internet‑based datalink communications between the cockpit, air traffic control and airline operations.
- The goal is to improve operational efficiency, safety, fuel burn and emissions by enabling more precise, real‑time data exchanges.
- Partners included Collins Aerospace, Honeywell, Thales, SITA, Viasat, NASA, the FAA, the European Space Agency and Embry‑Riddle Aeronautical University. [17]
While initiatives like ecoDemonstrator don’t move near‑term earnings by themselves, they reinforce Boeing’s story around innovation, sustainability and digitalization – themes that many long‑only institutional investors increasingly weigh when screening industrial stocks.
How analysts and forecasts see Boeing stock now
Zacks/Nasdaq: backlog strength and earnings growth
A Zacks analysis republished by Nasdaq notes that Boeing’s diversified business mix across commercial, defense and services has been a key driver of its recent share‑price resilience. [18]
Key points from that research:
- Boeing booked 161 net commercial airplane orders in Q3 2025, reflecting strong demand for new jets. [19]
- Its Defense, Space & Security (BDS) division secured about $9 billion in new contracts in Q3, pushing the backlog to around $76 billion and supporting roughly 25% year‑over‑year revenue growth in that segment. [20]
- Recent high‑profile wins include:
- A programme to build 96 AH‑64E Apache helicopters for Poland.
- A Lot 12 U.S. Air Force contract for 15 additional KC‑46A Pegasus tankers.
- A memorandum of understanding with flydubai for 75 Boeing 737 MAX jets, plus options for 75 more. [21]
Zacks’ consensus estimates (as summarized in the same report) point to EPS growth of roughly 53% in 2025 and 110% in 2026, underlining Wall Street’s expectation of a steep earnings recovery – albeit from deeply negative levels. [22]
MarketBeat: “Moderate Buy” and ~17% upside
MarketBeat’s forecast page shows that, over the last 12 months, 27 analysts have rated Boeing stock, giving it a consensus rating of “Moderate Buy.” [23]
The breakdown:
- 5 Sell
- 4 Hold
- 18 Buy/Strong Buy combined (15 Buy, 3 Strong Buy) [24]
Their average 12‑month price target is $233.17, implying about 16–17% upside from the roughly $199–200 share price today. The highest target stands at $275, while the lowest sits near $140, highlighting the still‑wide dispersion of views on Boeing’s execution and risk profile. [25]
StockAnalysis: Strong Buy and a turn back to profitability
Data compiled by StockAnalysis shows an even more bullish tilt, with the average analyst rating for BA at “Strong Buy.” [26]
Their consensus financial forecasts suggest:
- 2025 revenue of about $90.7 billion, up roughly 36% from 2024 levels.
- 2026 revenue approaching $100.0 billion, a further ~10% year‑on‑year increase. [27]
- EPS improving from –$18.36 in 2024 to –$9.67 in 2025, then turning positive at about $2.15 in 2026. [28]
These numbers broadly line up with CFO Jay Malave’s own guidance that Boeing expects modestly positive free cash flow in 2026, after an expected roughly $2 billion cash outflow in 2025. [29]
TD Cowen: “Best Idea for 2026” with a $240 target
In a fresh note highlighted by Investing.com, TD Cowen analyst Gautam Khanna named Boeing one of the firm’s “Best Ideas for 2026”, maintaining a Buy rating and a $240 price target. [30]
Khanna’s thesis centers on:
- Improving execution and a ramping production cadence.
- A multi‑year free‑cash‑flow ramp that the market may still be underestimating.
- Ongoing de‑leveraging of Boeing’s balance sheet as cash flow recovers.
- The view that commercial aerospace original‑equipment manufacturing is a rare, long‑cycle growth industry still working through years of undersupply. [31]
Political and regulatory backdrop: one risk dialed down
Boeing’s large defense business adds another layer of risk and opportunity tied to U.S. policy decisions. One recent headline eased a specific concern: the prospect of Washington taking equity stakes in big defense contractors.
At the Reagan National Defense Forum, the head of Boeing’s defense unit said President Trump’s plan for government equity stakes in strategic industries is not aimed at major primes like Boeing, Lockheed Martin or RTX, but rather at smaller suppliers that may need capital support. [32]
For BA investors, the comment suggests that forced government ownership is unlikely in Boeing’s case, even as the administration has taken stakes in companies in other strategic sectors such as semiconductors and critical minerals. [33]
On the regulatory side, Boeing still operates under intense FAA and international scrutiny after past safety crises, but industry voices such as IATA’s Willie Walsh now publicly highlight improved performance on deliveries and quality – a notable shift in tone compared with previous years. [34]
Key risks for BA stock investors
Despite the improving tone, Boeing stock is not a low‑risk story. Investors watching BA should keep several factors in mind:
- Execution and supply‑chain risk
- November deliveries fell 17% month‑on‑month, and Boeing still trails Airbus on deliveries (44 vs 72 planes in November). [35]
- Any new production hiccups, quality lapses or supplier failures – even with Spirit now in‑house – could quickly disrupt the cash‑flow rebound that is central to the bull case.
- Balance sheet and cash‑flow trajectory
- Boeing is still expected to post negative free cash flow in 2025, turning only modestly positive in 2026. [36]
- High debt from the multi‑year crisis leaves less room for error if deliveries slip or macro conditions deteriorate.
- Regulatory and safety oversight
- Even as performance improves, FAA and global regulators remain highly sensitive to any new incidents involving the 737 MAX, 787 or 777X programmes.
- Additional remedial work or certification delays – for example on the 737‑10 or 777X – could impact the timing of the revenue and cash‑flow ramp that analysts are modeling. [37]
- Macro and political risk
- Airline profitability, traffic growth, interest rates and geopolitical tensions all influence aircraft purchase decisions and defense budgets.
- Policy swings – including trade disputes that helped steer some 2025 orders toward Boeing – can cut both ways in future years. [38]
Boeing stock outlook: what today’s news means for BA
Putting it all together, the Boeing investment narrative as of December 10, 2025 looks very different from just a year ago:
- Order momentum is strong: Net 908 orders year‑to‑date, with Airbus’ own CEO acknowledging Boeing may win the 2025 order crown. [39]
- Deliveries are recovering: 537 aircraft delivered so far this year – nearly 70% more than at this point in 2024 – even if November saw a temporary slowdown. [40]
- Strategic moves are in motion: The Spirit AeroSystems acquisition aims to fix structural supply‑chain weaknesses, while ecoDemonstrator projects and digital communications tests showcase continued investment in technology and sustainability. [41]
- Wall Street is cautiously optimistic: Consensus targets cluster around $230–$240 per share with a “Moderate to Strong Buy” rating profile, implying mid‑teens to low‑20s percentage upside from current levels – but with plenty of disagreement reflected in the wide target range. [42]
For investors considering Boeing stock (BA) today, the key question is whether the company can execute smoothly on its production and cash‑flow promises over the next two to three years. If it does, the combination of a swelling order book, improved industry perception and balance‑sheet repair could justify the optimistic forecasts now emerging from Wall Street.
If execution stumbles again, however, the same leverage that amplifies the upside case could work in the opposite direction.
References
1. www.reuters.com, 2. www.nasdaq.com, 3. www.reuters.com, 4. finance.yahoo.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.reuters.com, 15. www.reuters.com, 16. boeing.mediaroom.com, 17. boeing.mediaroom.com, 18. www.zacks.com, 19. www.nasdaq.com, 20. www.nasdaq.com, 21. www.nasdaq.com, 22. www.nasdaq.com, 23. www.marketbeat.com, 24. www.marketbeat.com, 25. www.marketbeat.com, 26. stockanalysis.com, 27. stockanalysis.com, 28. stockanalysis.com, 29. www.reuters.com, 30. www.investing.com, 31. www.investing.com, 32. www.reuters.com, 33. www.reuters.com, 34. www.reuters.com, 35. www.reuters.com, 36. www.reuters.com, 37. www.reuters.com, 38. www.reuters.com, 39. www.reuters.com, 40. www.aerotime.aero, 41. www.reuters.com, 42. www.marketbeat.com
