Boeing Shares Hit New High

Shares of Chicago-based Boeing rose $2.80, or 2.9 percent, to $98.37 in midday trading, after hitting $98.73 earlier in the session. Shares have traded between $72.12 and $97.74 over the last 52-week period.

On Wednesday, McNerney assured investors at a conference in Chicago the company had booked more than 300 orders by mid-May.

Jefferies & Co. Inc. analyst Howard A. Rubel predicted Boeing's commercial aircraft revenue could rise by about 55 percent from 2006 through 2009, while profits have the ability to double.

The company's defense business, Rubel said, was likely to stay flat, unless Boeing is able to extend its C-17 military transport aircraft with additional orders from the proposed 2008 defense budget, or win a $40 billion Air Force contract to replace 179 aerial refueling planes.

Prudential Equity Group LLC analyst Byron Callan expects the company's stock to have a "modest upside" in the months ahead based on progress with the 787 aircraft, defense contracts and financial outlook.

"(The) 787 program is doing about as well as anyone could have wished for, but there is still risk until production rates are achieved."

The new plane is scheduled to enter commercial service next May. It's the first commercial jet that will be made mostly of light, sturdy carbon-fiber composites instead of aluminum and is said to be 20 percent more fuel-efficient than comparable jets.

Both Wall Street analysts did not revises earnings estimates for the year.