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Boeing (NYSE: BA) shares remain under pressure despite the Federal Aviation Administration’s certification of the 737 MAX 10, as investors assess whether the aircraft manufacturer’s order backlog can translate into stronger earnings and cash flow.
The stock traded at approximately $188.05 on October 23, 2026, at 1:39 p.m. Eastern Time, according to Stock Analysis. MarketBeat’s calculations showed the shares down approximately 13.6% year to date at the previous session’s close.
- Boeing shares traded at approximately $188 on October 23, 2026, while the average 12-month analyst price target stood at $267.22, implying roughly 42% potential upside.
- The FAA certified the Boeing 737 MAX 10 on October 20, clearing a major regulatory hurdle for an aircraft with 1,555 orders from more than 30 customers.
- Analysts expect Boeing’s revenue to reach $97.54 bn in 2026 and $112.02 bn in 2027, although several investment banks have recently reduced their stock price targets.
Wall Street’s outlook remains considerably more positive than Boeing’s recent share price performance suggests.
According to Stock Analysis, using consensus data from S&P Global Market Intelligence, 29 analysts covering Boeing have an average 12-month price target of $267.22 and a consensus Buy rating.
That represents approximately 42.1% potential appreciation from the October 23 reference price. The latest available consensus forecast ranges from $206 to $305 per share, with a median target of $270.
The difference between current market valuations and analysts’ expectations reflects anticipated improvements in Boeing’s future financial performance rather than its existing earnings alone.
Boeing stock price targets and analyst ratings for October 2026
Analyst recommendations remain predominantly positive, although recent target reductions indicate more cautious expectations about the timing of Boeing’s financial recovery.
Of the 29 analysts included in the S&P Global consensus, 25 assign Buy or Strong Buy ratings, while four recommend Hold. None in that dataset currently recommends selling.
The latest available individual analyst forecasts include:
- Bank of America Securities: Buy, $270 price target, maintained October 21.
- RBC Capital Markets: Outperform, $235 target, reduced from $265 earlier in October and maintained October 21.
- Susquehanna: Buy, $285 target, maintained October 19.
- Bernstein: Outperform, $278 target, reduced from $298.
- Morgan Stanley: Equal Weight, $225 target, reduced from $250.
- UBS: Buy, $275 target.
- Goldman Sachs: Buy, $253 target.
- Jefferies: Buy, $265 target.
- Barclays: Buy, $300 target, following the initiation of coverage in October.
The revisions illustrate the distinction between expectations for Boeing’s longer-term recovery and concerns about near-term execution.
Morgan Stanley reduced its target to $225, maintaining an Equal Weight rating. RBC Capital lowered its forecast to $235 while retaining a positive recommendation. Bernstein also reduced its target, although its $278 valuation remains considerably above the prevailing share price.
The $267.22 consensus reflects the latest available S&P Global dataset, dated October 21 and reviewed on October 23. Analyst targets are forecasts rather than estimates of guaranteed future returns.
FAA certification clears Boeing 737 MAX 10 for deliveries
The most important recent operational development came on October 20, when the FAA granted final certification to Boeing’s 737 MAX 10 after years of regulatory reviews, engineering assessments and flight testing.
The approval removes a major regulatory obstacle for the largest aircraft in the 737 MAX family and allows Boeing to proceed toward commercial deliveries.
Boeing has received 1,555 orders for the MAX 10 from more than 30 customers worldwide. The aircraft represents more than 30% of the outstanding 737 MAX order book.
Across the entire MAX family, customers have placed approximately 7,350 orders, with nearly 2,500 aircraft delivered through September 2026.
Boeing expects the first MAX 10 deliveries to begin in the coming months, with Reuters reporting that Canada’s WestJet is expected to receive its first aircraft in early 2027, subject to additional Canadian and European regulatory approvals.
The aircraft can accommodate up to 230 passengers, with typical two-class configurations seating between 185 and 210. Its range reaches approximately 3,100 nautical miles.
The certification process involved nearly 1,000 test flights, more than 2,000 flight hours and 1,000 hours of ground testing.
The aircraft includes an enhanced angle-of-attack system and updated flight-control technology that Boeing intends to incorporate across the MAX family.
Completing the certification program clears the path for us to deliver a Boeing airplane that will set a new standard in commercial aviation.
Stephanie Pope, president and CEO of Boeing Commercial Airplanes
FAA Administrator Bryan Bedford said the agency would continue holding Boeing to demanding safety standards as MAX 10 production and deliveries proceed.
Certification also completes regulatory approval of all four 737 MAX variants, following the certification of the smaller MAX 7 earlier in 2026.
Boeing earnings forecasts point to recovery in 2027
The certification provides Boeing with a clearer route to converting MAX 10 orders into aircraft deliveries, revenue and cash receipts. The financial impact will depend on production rates, delivery schedules, manufacturing costs and the timing of customer payments.
Analyst forecasts indicate that Boeing’s earnings recovery is expected to extend into 2027.
According to S&P Global Market Intelligence estimates published by Stock Analysis, Boeing’s revenue is projected to reach $97.54 bn in 2026, compared with $89.46 bn in 2025, representing growth of approximately 9%.
For 2027, analysts forecast revenue of $112.02 bn, an increase of approximately 14.9% from the expected 2026 level.
Analysts anticipate an adjusted loss of approximately $1.10 per share in 2026, followed by adjusted earnings of $3.77 per share in 2027.
The forecasts imply a recovery in profitability, but they also demonstrate why Boeing’s valuation depends heavily on expectations for future performance.
The company’s commercial aircraft backlog provides substantial revenue visibility, although orders do not immediately translate into recognized earnings or free cash flow.
Delivery execution, production stability and financial performance across Boeing’s defense and services operations will remain important in determining whether the company meets analysts’ expectations.
Boeing’s P/E ratio remains above aerospace sector averages
Boeing’s earnings valuation continues to present a challenge for investors evaluating the potential upside indicated by analyst price targets.
At approximately $187.55 per share, Stock Analysis reported a trailing price-to-earnings ratio of about 70x, based on its earnings calculation.
The earlier Simply Wall St valuation assessment placed Boeing’s P/E ratio at approximately 71x, compared with an aerospace and defense sector average of 32.2x and a broader peer-group multiple of 28.6x.
Differences between data providers can reflect the earnings measures and reporting periods used.
On those comparisons, Boeing commands a substantial premium to the sector despite uncertainty surrounding the pace of its profitability recovery.
Simply Wall St’s Fair Ratio methodology, which incorporates assumptions about growth, profitability, company size and risk, indicated that Boeing’s earnings multiple was modestly above the level justified by that model.
The model-based assessment differs from the broader Wall Street consensus, which implies significant share price appreciation over the next 12 months.
Neither approach guarantees the stock’s future performance. The valuation difference principally concerns how quickly Boeing can convert its order book into sustainable earnings and cash flow.
Boeing’s next earnings report could test analyst expectations
Boeing is scheduled to release its third-quarter 2026 financial results on October 27.
Chief Executive Kelly Ortberg and Chief Financial Officer Jay Malave will discuss the results and the company’s outlook during a conference call scheduled for 10:30 a.m. Eastern Time.
The announcement will give investors another opportunity to assess production performance, aircraft delivery progress, margins and cash generation following the MAX 10 certification.
The market will also be looking for indications of how Boeing intends to manage its substantial commercial aircraft backlog while maintaining manufacturing quality and regulatory compliance.
For the MAX 10, certification resolves a significant approval uncertainty, but it does not eliminate the operational and financial requirements associated with increasing production and completing deliveries.
Boeing’s current share price remains well below the average Wall Street target, although the recent reductions by Morgan Stanley, RBC Capital and Bernstein show that analysts continue to reassess the timing and scale of the company’s earnings recovery.
The October 27 results will provide the next financial benchmark against which those forecasts can be evaluated.
