The Federal Aviation Administration gives long-awaited approval for the Boeing 737 MAX 7
The decision marks a milestone for the planemaker that has waited years to sell the smallest version of its best-selling airplane
Brokerage BNP Paribas upgrades Boeing to "outperform" from "underperform"; raises PT on the plane maker to $300 from $230
"The post-COVID era of uncertainty for BA is over. In the next year, MAX 7/10 and 777X certifications will drive inventory liquidation and operational stability," BNP Paribas analysts write
Brokerage says Boeing's balance sheet will return close to pre-pandemic norms as it de-leverages
Says losses on its fixed-price defense contracts should ease, reducing the drag on consolidated cash flow
Expects 777X research and development spending and cash burn to decline as flight testing winds down and existing aircraft inventory is delivered
24 of 29 brokerages rate stock "buy" or "higher", 5 "hold"; their median PT is $269.50 - LSEG data
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