On May 20, Bernstein lifted the price target on The Boeing Company (NYSE:BA) stock to $249 from $218 and maintained an Outperform rating.

Analyst Douglas Harned raised the price target following the company’s recent developments. The major move was China resuming airline delivery of Boeing planes. The analyst mentioned that Boeing has already received new widebody orders as things get better in China. The easing of trade deals between the U.S. and China also supports Boeing’s presence in China.Bernstein Lifts PT on Boeing (BA) Stock to $249 from $218

A Boeing 737 aircrafts parked in an airport terminal with passengers awaiting to board.

Harned also highlighted the support for defense programs after Trump’s recent deals in the Middle East. A large number of orders for Boeing jets from the Middle East add to the company’s outlook. The analyst argues that there is still upside potential for BA stock.

The Boeing Company (NYSE:BA), along with its subsidiaries, designs, manufactures, and sells commercial jetliners, military aircraft, and missile defense, among other offerings. The company operates through three segments, including Commercial Airplanes, Global Services, and Defense, Space & Security.

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