Investing.com – Bank of America (BofA) reported a slow start to deliveries in July Boeing Co (NYSE:) in an analyst note on Tuesday.
Boeing has delivered six 737s as of July 11, according to Aero Analysis Partners/AIR (AAP/AIR) data. Cirium data, on the other hand, shows eight deliveries through mid-July. This represents a decrease from the 14 737s delivered in the same period last year and the 15 delivered in the same period the previous month.
BofA notes that deliveries typically see a slowdown in July after a surge at the end of the quarter. Over the past three years, July has seen an average monthly decline of 38%, which would indicate approximately 22,737 deliveries for the month.
On the production side, Boeing has rolled out 10 737s so far this month, for a total of 126 737s since the start of the year. Deliveries of the 787 remain slow, with only one delivery to date, reflecting mid-June 2024 levels.
BofA maintained its neutral rating on Boeing with a price target of $186.72.
