Boeing (BA, Financial) climbed 5.34% to $170.20 as of 9:45 AM ET Wednesday, as investors reacted to upbeat comments from Chief Financial Officer Brian West at a Bank of America investor conference.
West said Boeing is in strong shape as it works toward producing 38 units of the 737 Max per month, according to Bloomberg News. However, the Federal Aviation Administration has capped production at that level due to safety concerns. The company has also faced supply-chain issues and labor strikes that have impacted output.
Production of the 787 Dreamliner is stabilizing at five units per month, with plans to ramp up, West noted.
He also said March aircraft deliveries will be in line with February, when Boeing delivered 44 aircraft, including 32 from its 737 family.
With production stabilizing and output targets in place, investors responded positively to Boeing's outlook.
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