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Dec. 2, 2021, 8:15 a.m. EST

Boeing stock bounces off 1-year low, on track to add nearly 70 points to the Dow's price

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By Tomi Kilgore

Shares of Boeing Co. /zigman2/quotes/208579720/composite BA -0.42% bounced 5.4% in premarket trading Thursday, enough to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -1.51% early gainers. Boeing's stock's implied price gain would add about 67 points to the Dow's price, while the Dow futures /zigman2/quotes/210407078/delayed YM00 +0.05% rose 231 points, or 0.7%. Benchmark analyst Josh Sullivan reiterated his buy rating on $270 stock price target on Boeing, after he said the Civil Aviation Administration of China (CAAC) issued an airworthiness directive for the 737-MAX aircraft, in which China-based airlines are to execute specific software installations and revise the flight manual. "This directive, while not specifying a timeline for recertification of the 737-MAX, is at a minimum a step forward towards commercial operations," Sullivan wrote in a note to clients. The stock's bounce comes after it closed Wednesday at the lowest price since Nov. 13, 2020, after tumbling 10.6% amid a four-day losing streak, and after losing 17.2% over the past eight sessions in which it fell seven times. Fears about the potential impact of the omicron variant of the coronavirus that causes COVID-19 have been weighing on aerospace and airline stocks.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 225.01
-0.95 -0.42%
Volume: 8.95M
Jan. 18, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$132.80 billion
Rev. per Employee
$445,376
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
35,368.47
-543.34 -1.51%
Volume: 427.26M
Jan. 18, 2022 4:56p
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 35,275.00
+16.00 +0.05%
Volume: 51,389
Jan. 19, 2022 4:46a
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