Boeing's recent results highlighted the case for the stock but perhaps not in the way many investors might think. In truth, they were mixed. However, Boeing's management has conservatively guided expectations, and the stock's valuation is such that merely meeting its medium-term guidance leaves Boeing stock looking like a good value at the moment. Boeing is on track to hit its targets, mainly as airplane production appears to be ramping up as planned. For example, BCA expects to deliver 400 to 450 of its 737 MAX airplanes in 2023, moving to a rate of 50 a month in 2025/2026. The good news is Boeing delivered 103 in the quarter, meaning a rate of roughly 34 a month, and West said: "We are now transitioning production to 38 per month and still plan to increase to 50 per month in the '25-26 timeframe." This is the most critical part of Boeing's business, as the company's profit margin tends to expand as production volume grows. Boeing stock is worth buying, but it's not as strong a buy after seeing the latest earnings. Boeing is ramping up commercial airplane production -- that's a significant plus. It also has a management, and an impressive.

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