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Boeing gets 737 MAX 7 certification, shares jump toward six-year highs
U.S. aviation authorities cleared a long-running 737 MAX 7 review, removing a major overhang as Boeing looks to convert its large backlog into deliveries and cash.
Boeing shares rose sharply after U.S. aviation authorities certified a key variant in the company’s 737 program, easing a bottleneck that had weighed on the turnaround narrative for years, according to MarketBeat Ratings.
The certification ended a review that stretched back much of the past decade and clears one of Boeing’s biggest regulatory overhangs, enabling the company to move forward with turning its order backlog into revenue through deliveries.
The outlet said the cleared step applies to the 737 MAX 7, which had been stuck in limbo, and it also helps pave the way for approval of the MAX 10, the final family member still awaiting sign off.
MarketBeat Ratings added that the stock is up close to 20% over the past fortnight and near the top of its six-year range, while noting that analyst sentiment remains a factor, with a “Moderate Buy” stance based on 20 analyst ratings.