Boeing stock hits new 15-month high following Bank of America upgrade

BA stock reaches a 15-month high above $212.00.
Bank of America upgraded Boeing from Neutral to Buy.
BofA analysts see growing production momentum and divestitures helping cash flow.
Boeing stock's next target is $243.00, filling in the gap from January 2024.

Clay Webster FXStreet

Boeing (BA) stock reached another 15-month high on Monday as shares of the airplane maker hit an intraday high of $212.34. That was its highest share price since early February of 2024 and narrowly beat out last Thursday's high.

Boeing's rally was helped by Bank of America (BofA) granting it a Buy rating on Monday. The bank's analysts said US President Donald Trump's habit of getting nations to announce Boeing purchases alongside trade deals should boost the stock in the latter half of the year.

BofA analyst Ron Epstein pointed in his Monday client memo to new Boeing orders being announced alongside trade deals with the United Kingdom, Qatar and the UAE. While the US has a large structural trade deficit, Boeing is the largest single exporter among US corporations and often comprises 2% of all US exports in most fiscal years.

"We now see Boeing breaking its ‘doom loop'", wrote Epstein.

Boeing is on schedule to raise production of its popular 737 Max aircraft from the low 30s to the government's limit of 38 per month by year-end. Epstein and company raised the prospect of the Trump administration raising Boeing's limit to 42 later this year if certain safety criteria are met.

Also, further divestment and reduced research & development costs should help operating cash flow perk up by 2028, according to the client note. Additionally, the analysts see particular upside from Boeing winning the US Air Force’s Next Generation Air Dominance contract earlier this year. Dubbed the F-47, the contract could make Boeing the leader in fighter jet supply in the decades to come.

Boeing stock chart

Boeing stock has spent the past four weeks trading largely above the previous range high from last summer of $196.95. With that level now turning into support if necessary, as well as helping BA shares to break the downtrend cycle, bulls will fix their eyes on filling in the gap from January 2024 by reaching $243.00.

Now well above both the 50-week Simple Moving Average (SMA) near $171 and the 200-week SMA near $188, reaching $243.00 would all bulls to retest the December 2023 range high at $267.54.

BA weekly stock chart

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

AUD/USD remains depressed near 0.6950 after RBA minutes

AUD/USD attracts follow-through selling during Tuesday’s Asian session, looking to extend the overnight rejection slide from 0.7000, or a two-week top, following the release of RBA meeting Minutes. The US Dollar retains a bullish undertone near its highest level since April 2025 as energy-driven inflation risks keep December Fed rate hike bets firmly on the table. Adding to this, geopolitical risks further underpin the safe-haven USD.

USD/JPY extends retreat below 158.50 as intervention risks loom

USD/JPY is dropping below 158.50 in the Asian session on Tuesday, snapping a two-day winning streak and pulling back from an over two-week top touched the previous day, despite Japan's soft PPI inflation print. Bulls turn cautious amid speculation that authorities will step in to prop up the Japanese Yen, which, in turn, weighs on the pair.

Gold bulls seem hesitant below $4,200 as hawkish Fed offset USD weakness

Gold retains a mildly positive bias though it remains capped below the $4,200 mark and the top boundary of a two-week-old trading range. The US Dollar retreats from its highest level since April 2025 amid some profit-taking, offering support to the precious metal. However, the US Federal Reserve's hawkish stance and escalating Middle East conflicts could limit deeper losses for the safe-haven buck, keeping a lid on the commodity and warranting some caution for aggressive bulls.

Solana reclaims 50-day EMA amid tokenization expansion

Solana (SOL) trades above $107 on Tuesday, reclaiming the 50-day EMA after closing below it the previous day. Meanwhile, Solana’s tokenization expansion and the upcoming listing of Hong Kong’s second spot Solana Exchange Traded Fund highlight growing institutional interest.

Dollar corrects as markets watch bank earnings

The US Dollar remains broadly strong but is now correcting, with a possible retest of the breakout zone around 102 on the Dollar Index. Equity markets are showing a mixed picture: the S&P 500 and Nasdaq are weaker, while blue-chip indices such as the Dow Jones and DAX are moving higher.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?