Aircraft maker Boeing (NYSE:BA) has had a rough few weeks after the Federal Aviation Administration (FAA) got involved in its operations. However, there are some signs that the involvement is starting to relent, which was enough to push Boeing up modestly in Thursday afternoon’s trading.
The latest reports suggest that the top official at the FAA will be discussing Boeing’s quality control practices at an upcoming meeting with Boeing executives. This comes after a recent trip an FAA administrator, Mike Whitaker, took to Seattle to meet with Boeing. Both meetings come on the heels of several high-profile disasters for Boeing craft, which prompted the FAA to step in and engage in an audit of Boeing’s production systems. Some interpret this as movement in the process that will, eventually, get the FAA out of the picture and Boeing back to normal.
But Then More Problems Hit
This should have been good news, but then we discover why Boeing had the training wheels put on it in the first place. The door panels flying off in flight were dramatic enough, but then further reports of faulty Boeing systems came into play. A Boeing 787 that was on a transatlantic flight was reportedly forced to turn back after eight of its nine available bathrooms stopped working.
Is Boeing a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 17 Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 3.23% loss in its share price over the past year, the average BA price target of $262.67 per share implies 27.46% upside potential.
