Boeing (BA) delivered 137 commercial airplanes in the first quarter, a 32% increase from a year ago. That included five 787 Dreamliners, its much-anticipated long-delayed fuel-efficient plane. In addition, it delivered 99 narrow-body 737 planes, up from 87 the year before, Reuters reported.

Boeing is now poised to profit off of two airplane models that have caused the company difficulty in recent years, wrote Maxim analyst Ray Neidl.

Neidl thinks Boeing deserves a price to earnings multiple of 15 times, better than its competitors in the defense industry. That gives him a price target of $90. Boeing is trading this morning at $72.56, down 1.4%.