Boeing shares declined 0.57% to $186.49 during Friday's regular session, according to Benzinga Pro data at publication. Boeing shares were approaching the company's 52-week low of $176.77 as investors assessed 737 MAX 10 certification progress against cash flow and execution risks. Boeing's third-quarter earnings release is due next week.
Reuters reported that the Federal Aviation Administration (FAA) gave final approval to Boeing's long-delayed 737 MAX 10 on Tuesday. The approval clears the path for deliveries of the largest 737 model. Boeing expects the aircraft to help restore the company's finances and generate cash flow. Aviation consultancy IBA says airlines have ordered more than 1,550 MAX 10 aircraft, representing 31% of Boeing's unfilled 737 orders. Major customers include United Airlines Holdings Inc., Delta Air Lines Inc., Alaska Air Group Inc., American Airlines Group Inc. and Ryanair Holdings PLC.
Boeing originally intended to start delivering the 737 MAX 10 in 2020. However, certification was delayed by tighter regulatory scrutiny after two fatal 737 MAX 8 crashes, engine anti-ice system problems and software concerns. The FAA cleared the smaller 737 MAX 7 in August. Boeing is still seeking certification for the 777-9, with deliveries expected in 2027.
Boeing is scheduled to release earnings on October 27, 2026. Analysts project a loss of $0.21 per share, compared with a loss of $7.47 per share a year earlier. Revenue is projected at $23.84 billion, compared with $23.27 billion a year earlier. Boeing shares trade at 67.5 times earnings, indicating a higher valuation than peers. Boeing has a consensus Buy rating and an average price forecast of $269.42.
Morgan Stanley cut Boeing's price target to $225.00 on October 19 while retaining an Equal-Weight rating. RBC Capital cut Boeing's price target to $235.00 on October 15 while retaining an Outperform rating. Bernstein cut Boeing's price target to $278.00 on October 12 while retaining an Outperform rating.
The Benzinga Edge scorecard assigns Boeing a weak momentum score of 19.55 relative to the broader market. Boeing continues to lag on trend-following indicators, consistent with the share price remaining below important moving averages. The scorecard assigns Boeing a weak value score of 28.26. Boeing's expensive valuation relative to peers can discourage purchases after price declines unless the trend improves. Boeing shares likely need to move back above major moving averages to improve the momentum assessment for longer-term bullish investors. Bearish investors will watch whether Boeing shares break below support around $183.50.
The iShares US Aerospace & Defense ETF (ITA) has a 7.53% weighting in Boeing. The Invesco Aerospace & Defense ETF (PPA) has a 9.03% weighting in Boeing. The First Trust Indxx Aerospace & Defense ETF (MISL) has a 7.19% weighting in Boeing. Large inflows or outflows at these ETFs will likely trigger automatic purchases or sales of Boeing shares because of the stock's substantial weightings.
Boeing Shares Decline as 737 MAX 10 Certification Progress Assessed
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Summary
Boeing shares dipped 0.57% to $186.49 on Friday as investors weighed 737 MAX 10 certification progress against execution risks. The FAA gave final approval for the MAX 10 on Tuesday, allowing deliveries to begin. Airlines have ordered over 1,550 units, or 31% of Boeing’s 737 backlogs. On-chain data shows mixed sentiment in altcoins to watch, while Boeing’s Q3 earnings are due October 27, 2026, with a projected $0.21 loss and $23.84 billion revenue.
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