There’s a bit of good news out for aerospace company Boeing (NYSE:BA) today, for a change, though it’s also got some more troubles in the background. The not-technically-trapped in space astronauts just offered an endorsement of the Starliner, and that was good enough for at least a fractional boost in Boeing shares in Wednesday afternoon’s trading.
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Both Barry “Butch” Wilmore and Sunita Williams came out in favor of the Starliner, declaring they were “confident” that the craft could get them back home, eventually. They’ve been up there, cooling their heels in the International Space Station for over a month now, but they still believe the craft can work.
In fact, they recently tested a “safe haven” procedure, which requires them to take shelter in the Starliner should something go wrong with the ISS and they need to rapidly undock. The tests went well, by all reports. When that and other recent simulations are factored in, that provides some rational basis for the astronauts’ confidence.
Meanwhile, Everywhere Else…
That, sadly, was about where the good news ended for Boeing today. A technician in southern Iran, Abolfazi Amiri, passed away after being sucked into a Boeing engine during some “routine maintenance work.” Amiri went back to recover a tool left near the engine after it had been switched on for testing. It’s not Boeing’s fault, but still, it’s not something it wants to be connected with, either.
But then came reports of a Boeing aircraft that, once again, lost a wheel during takeoff. The 757-200, which was poised to take off from Los Angeles for a flight to Denver, did ultimately take off and completed the flight to Denver without incident. Still, United Airlines (NASDAQ:UAL), which owned the flight, noted it was investigating.
Is Boeing Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 16 Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 16.1% loss in its share price over the past year, the average BA price target of $213.21 per share implies 16.14% upside potential.
