Boeing’s stock price reportedly is poised to take off once again after running into some very rough turbulence.
Shares of Boeing “have certainly felt the effects of the ongoing tariff and trade wars between the U.S and China,” InvestorPlace recently explained.
By midday Friday, the stock (BA) was trading at $319.89, down $5.58, or 1.71% In the past 52 weeks, shares have hit a high of $394.28 and a low of $292.60.
“The company has beaten earnings estimates handily three out of the past four quarters, yet BA stock is actually lower over that time frame. This combination of better earnings and a lower stock price makes Boeing a much better value at current levels,” InvestorPlace explained.
To be sure, Boeing is poised to open its first 737 finishing plant in China, underscoring the company’s commitment to the world’s largest aircraft market amid simmering trade tension.
The Chicago-based planemaker will inaugurate its completion and delivery center in Zhoushan, 90 miles southeast of Shanghai, on Saturday, after more than a year of construction. The facility marks a rare industrial foray outside of the U.S. for Boeing and a joint venture with state-owned planemaker Commercial Aircraft Corp. of China Ltd., Bloomberg reported.
While the plant was sent in motion before U.S. President Donald Trump was elected, the ribbon-cutting risks being overshadowed by his tit-for-tat on duties with China on products ranging from cars, machinery to pork and soybeans. A three-month truce announced earlier this month has been under threat since the arrest of Huawei Technologies Co.’s chief financial officer in Canada after the U.S. sought her extradition on allegations of violating Iran sanctions.
The Zhoushan facility, with roots on both sides of the Pacific, is emblematic of the balancing act for Boeing in China. The planemaker’s ties date to President Richard Nixon’s 1972 arrival in China aboard a Boeing 707. Chinese workers at the new plant will put the finishing touches on U.S.-built planes flown over from a Seattle-area factory, before delivering them to local customers.
“It’s difficult to overestimate the importance right now of China as a customer,” said Ken Herbert, analyst with Canaccord Genuity.
About one of every four jets that Boeing builds is bound for China, while the country’s airlines are the biggest buyers of the 737, the manufacturer’s largest source of profit. China is expected to need about 7,700 commercial planes over the next two decades to connect an increasingly mobile middle class. That represents a $1 trillion market opportunity for Boeing, Airbus SE and homegrown rivals like Comac.
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