There’s a pretty long list of things aircraft maker Boeing (NYSE:BA) needs. Better economic conditions, a renaissance in travel, and some kind of conditions where every airline needs to buy at least one new plane a year. More lawsuits, however, are on the list of things Boeing doesn’t need right now. Unfortunately, that’s what they’re likely going to get, and that was enough to send Boeing down fractionally in Wednesday afternoon trading.
The word came down from U.S. District Judge Jorge Alonso, as he ruled that the families involved in the 2019 crash of a Boeing 737 Max jet can indeed sue Boeing for the pain and suffering the victims endured before their death. This is actually a step forward; Boeing already agreed back in 2021 to accept its responsibility for the crash in lieu of being assessed damages. Boeing tried—ultimately unsuccessfully and somewhat ghoulishly—to argue that those victims likely died before they could feel any pain or suffering from the crash.
Now, with the new ruling in place, attorneys for the families in question will be able to start calling witnesses, experts who can speak to the pain and suffering felt during the rapid descent into the solid ground that likely happened before the fiery wreck that the victims, according to Boeing, could not possibly have felt. The news comes at a terrible time for Boeing, who recently revealed that it’s planning to boost construction on the 787 Dreamliner, getting up to roughly one per week.
Despite this, however, there’s still plenty of good news from analysts. Boeing is considered a Moderate Buy by analyst consensus thanks to 10 Buy ratings against five Hold ratings. With an average price target of $238.40, Boeing stock offers its investors 16.96% upside potential.
