Boeing Stock Rises After Turkish Low-Cost Carrier Pegasus Orders 200 737-10 Airplanes: Retail Shrugs It Off

Shares of aviation major Boeing Co (BA) rose nearly 3% on Thursday after Türkiye's low-cost carrier Pegasus Airlines ordered up to 200 Boeing 737-10 airplanes.

Boeing said in a statement that the 737-10 will complement Pegasus’ fleet of Next-Generation 737s by providing operational commonality and flexibility to meet growing travel demand. The purchase includes a firm order for 100 737-10 jets with options for 100 more.

Pegasus CEO Güliz Öztürk highlighted that Boeing aircraft have been an integral part of the airline’s operations since it entered the aviation industry in 1990.

“The first 100 aircraft are firm orders and we will be evaluating converting the remaining 100 aircraft options into firm orders in the coming years, based on market conditions and the needs of our fleet,” Öztürk said.

Notably, Pegasus operates connecting flights between Türkiye and Europe, North Africa, the Middle East and Central Asia through its point-to-point and connecting flights through Türkiye.

The airline’s order of 100 jets will bring the total orders of the 737 MAX variant to more than 1,200 jets.

Meanwhile, Boeing indicated that its Commercial Market Outlook projects European and Central Asian operators will take delivery of nearly 7,900 single-aisle airplanes over the next 20 years.

Despite the development, retail sentiment on Stocktwits inched lower into the ‘neutral’ territory (53/100) from ‘Bullish’ a day ago. The move was accompanied by high message volume.

Boeing’s Sentiment Meter and Message Volume as of 12:59 p.m. ET on Dec. 19, 2024 | Source: Stocktwits

Retail chatter, too, indicated mixed take on the stock.

Meanwhile, Boeing stock has received a couple of price target upgrades. Morgan Stanley raised its price target on Boeing to $175 from $170 while keeping an ‘Equal Weight’ rating on the shares, according to The Fly.

TD Cowen also raised its price target to $200 from $190 while keeping a ‘Buy’ rating on the shares following a transfer of coverage.

Notably, Boeing shares have a lot of catch-up to do after having lost over 29% since the beginning of the year.

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