Boeing Co (BA) announced on Monday that United Parcel Service Inc (UPS) had ordered additional eight 767 freighter jets.
With this new order, United Parcel’s fleet of 767 freighter jets is to expand to 108, while deliveries of the new aircraft are slated to begin in 2025.
The financial terms of the agreement, however, remained undisclosed.
In 2021, the package delivery company had placed an order for 19 Boeing 767 freighters amid an e-commerce expansion.
Boeing shares closed higher for the sixth time in the past ten trading sessions in New York on Monday. The stock went up 0.54% ($0.89) to $165.42, after touching an intraday low at $162.20. The latter has been a price level not seen since August 24th ($161.38).
The shares of Boeing Company have retreated 17.83% so far in 2022 compared with a 15.43% loss for the benchmark index, S&P 500 (SPX).
In 2021, Boeing Co’s stock went down 5.95%, thus, it again underperformed the S&P 500, which registered a 26.89% gain.
Meanwhile, the shares of United Parcel Service Inc closed 0.83% lower at $197.27 in New York on Monday.
Analyst stock price forecast and recommendation
According to TipRanks, at least 11 out of 13 surveyed investment analysts had rated Boeing Co’s stock as “Buy”, while 2 – as “Hold”. The median price target on the stock stands at $213.33.
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