The Boeing Company (BA): A Bull Case Theory

We came across a bullish thesis on The Boeing Company on DeepValue Capital’s Substack. In this article, we will summarize the bulls’ thesis on BA. The Boeing Company's share was trading at $241.59 as of January 28th. BA’s forward P/E was 111.11 according to Yahoo Finance.

Boeing has been a cornerstone of global aerospace and defense for over a century, evolving from a lakeside workshop in Seattle to a symbol of American innovation and resilience. Founded in 1916 by William Boeing, the company adapted early on to survive, pivoting between airplanes, boats, and furniture when market demand shifted. Its engineering focus, reinforced by contributions like the University of Washington wind tunnel, enabled Boeing to deliver iconic aircraft such as the B-17, B-29, 707, 737, and 747, while shaping commercial travel and military aviation worldwide.

Despite setbacks—including the 1971 downturn, production challenges, and recent crises with the 737 MAX and 787 programs—the company has consistently demonstrated resilience, learning from failures while maintaining strategic relevance. Today, Boeing operates across three segments: Commercial Airplanes, Defense, Space & Security, and Global Services, serving governments, airlines, and enterprises globally. However, the company endured six turbulent years marked by accidents, regulatory scrutiny, and billions in settlements, reflecting leadership and execution challenges.

In response, Boeing has taken decisive action, acquiring Spirit AeroSystems to regain supply chain control and appointing engineering-focused CEO Kelly Ortberg to restore quality and operational rigor. These moves, combined with Boeing’s enduring strategic positioning and growing backlog, signal a strong path forward.

With foundational challenges addressed, the company is poised for recovery, offering investors a compelling opportunity as its operational discipline, government and commercial contracts, and long-term growth potential set the stage for significant upside. The recent Q3 results underscore this trajectory, balancing past setbacks against a clear path to execution and renewed confidence in Boeing’s future.

Previously, we covered a bullish thesis on The Boeing Company (BA) by DeepValue Capital by Kyler in March 2025, which highlighted the company’s duopoly positioning, massive backlog, depressed valuation, and turnaround potential under new leadership. BA’s stock price has appreciated by approximately 35.64% since our coverage due to improving turnaround expectations and operational catalysts. DeepValue Capital shares a similar thesis but emphasizes updated execution progress, recent filings, and recovery signals.

The Boeing Company is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held BA at the end of the third quarter which was 101 in the previous quarter. While we acknowledge the risk and potential of BA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.