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U.S. Ethanol Production and Stocks Estimates for Sept 17
The following is a range of analysts' estimates of ethanol production and ethanol inventories for the week ended September 17. Production units are in thousands of barrels per day, while inventories are listed in thousands of barrels. Parentheses indicate a negative number. The report is scheduled to be released at 10:30 a.m. ET Wednesday by the EIA.
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DiscoverGold Member Level  Tuesday, 06/01/21 09:55:47 AM
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Boeing (BA) Rises as Cowen Upgrades Stock to Outperform
By: TheStreet | June 1, 2021

• Cowen based the move on 'fast-improving' air traffic amid the 50% U.S. vaccination rate, which is boosting demand for planes.

Boeing (BA) shares rose Monday after Cowen analyst Cai von Rumohr upgraded the giant jet maker to outperform from market perform, raising his price target to $290 from $240.

“Now that U.S has hit a 50% vaccination rate, air traffic/indicators are accelerating,” he said. “Fast improving air traffic is bolstering aircraft demand.”

Boeing recently traded at $252.09, up 2.05%. It has climbed 17% over the past six months amid enthusiasm for vaccines and economic recovery. That compares to a 16% gain for the S&P 500.

“Europe and China are likely to reach 50% [vaccination] in two and five months, respectively,” von Rumohr said. “And IATA [International Air Transport Association] now expects air traffic to top 2019's level by 2023.”

Further, “While lingering FAA oversight and timing of China's 737 MAX approval limit upside to 2021, 2022-24 look brighter,” he said. “Beyond traffic, aircraft demand is bolstered by (1) better economics of new planes, (2)low interest rates, and (3) lower carbon emissions.”

Boeing suspended deliveries of its 787 Dreamliner once more on Friday while it seeks FAA approval for its program to solve quality problems.

"We are working to provide the FAA with additional information concerning the analysis and documentation associated with the verification work on undelivered 787s," Boeing said in a statement.

A week before that came reports that Boeing is preparing to boost production of the 737 MAX.

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