Aircraft maker Boeing (NYSE:BA) hasn’t been in the best shape for some time now, though yesterday’s bond sale gave it a healthy boost in the market. It only got worse today, though, as a university partner of Boeing’s decided not to accept further donations. That, coupled with the ongoing dilemmas Boeing faces around senior leadership, sent shares down fractionally in Tuesday afternoon’s trading.
Portland State University announced that it would stop taking donations from Boeing, at least for the time being, as students engage in campus-wide protests that seem to be part of a larger set of protests brewing on college campuses throughout the United States and into parts of Europe. As the Israel-Hamas war continues in earnest, Boeing’s connection therein has left it a bit of a target with the college crowd.
Likely hoping to defuse some of the protests, Portland State University in Oregon decided to stop accepting Boeing’s money. Instead, an “open forum” will be set up in May to address student concerns about the “ties” therein. However, with protests continuing and Portland State’s campus closed today with students occupying the library, the overture likely isn’t that welcome.
Meanwhile, Boeing’s Leadership Troubles Continue
Collegiate protests are the least of Boeing’s problems right now, though, as it’s still looking into a new CEO. Just five days ago, Boeing noted that it wanted to settle the Spirit AeroSystems (NYSE:SPR) matter before a new CEO was installed. But with issues of culture weighing heavily on Boeing—and in some cases directly cited as reasons behind the recent line of mechanical failures—it’s clear that Boeing needs to address its culture quickly. Getting a new CEO in may not be able to wait until Spirit’s hash is settled, and the longer it takes, the more trust Boeing loses in the marketplace.
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, seven Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 15.5% loss in its share price over the past year, the average BA price target of $226.28 per share implies 32.13% upside potential.
Is It Wise to Allocate $1,000 Toward BA Stock Right Now?
Before you hurry to invest in BA, think about the following:
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