Boeing Co (NYSE:BA) last traded at $189.06 and could be an exciting stock to add to ones portfolio in 2023. Everything is coming together for the aerospace giant and here’s why. Aerospace is a long-cycle industry and 2023 is very early days in a new cycle, with multiple years of strong growth from a low starting point still to come.
Shares are up about 40% over the past six months, and they have more room to run in 2023 as travel picks up pace post pandemic. Global air travel has largely recovered, airlines are placing orders for new planes at a near-record pace, the MAX and 787 are delivering and production rates are ramping, and China is de-risked from the MAX skyline.
