Aerospace company Boeing (NYSE:BA) has had its share of troubles lately. And by “lately” you can pretty much fill in the blanks in terms of timing, anything from “the last month” to “the last six months” or maybe even more will qualify. And today, it’s down another 1.5% thanks to some new Starliner issues as well as some ualnexpected hiring plans.
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First came word about some new troubles out of Starliner. The extension of its mission allowed engineers to give the craft a thorough examination, and what they found was reasonably good news. Reports note that the helium leaks that dogged the craft’s launch just days ago weren’t quite as bad as feared, and the Starliner will have plenty of helium to make it back to Earth.
There were five leaks in total, at last report, with one fixed just head of launch, but four others were discovered while the craft was in space. However, the good news is that the Starliner had more than enough fuel to begin with, so the modest amount lost to leakage in flight won’t really have an impact. Starliner needs seven hours’ worth of fuel to get back home successfully, and estimates currently allow Starliner 70 hours of fuel.
Boeing: Now Hiring! Because…Reasons?
It’s no secret that Boeing isn’t doing well right now. Recent news about its cash burn rate remaining elevated for some time still applies, and it’s been producing not only under its earlier figures but well under a government-imposed cap on production for months now. Yet, despite this, Boeing plans to bring 400 jobs to Florida’s Daytona Beach by setting up an engineering location at Embry-Riddle Aeronautical University. It will be opening this fall and will focus on research for the defense, security, and space sectors of Boeing.
Is Boeing Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 17 Buys, seven Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 17.13% loss in its share price over the past year, the average BA price target of $215.43 per share implies 17.71% upside potential.
