China Buys 200 Boeing Jets, Shares Drop 7%; Citi Boosts Price Target to $260
After the China summit, Beijing confirmed orders for 200 Boeing jets, below analysts’ forecasts and pushing Boeing shares down over 7% for the week. Citi upgraded Boeing with a $260 price target, describing the recent aerospace selloff as a buying opportunity for long-term investors.
1. China Confirms 200-Jet Order
During the summit with the US president, China formalized plans to purchase 200 Boeing commercial jets, a figure that fell short of market expectations and contributed to a more than 7% decline in Boeing shares over the past week.
2. Citi Raises Price Target to $260
Citi’s aviation analyst framed the recent aerospace sector selloff as a buying opportunity for patient investors and lifted Boeing’s 12-month price target to $260, citing resilient long-term demand for aircraft deliveries and an improving airline order backlog.