Operators of Boeing Co.’s (NYSE: BA) 787 aircraft are required to take extra precautions while landing on wet or snowy runways at airports that have deployed the new 5G wireless services, the U.S. Federal Aviation Administration (FAA) said, according to a report published by Reuters.
The FAA said that the 5G services could interfere with the aircraft’s engine and braking systems and prevent them from changing to landing mode, which could lead to the aircraft not stopping on the runway.
As per the directive, crews are required “to be aware of this risk and to adopt specific safety procedures when landing on these runways.”
Further, the directive disallows aircraft operators from releasing 787s “to affected airports when certain braking and anti-skid functions on the airplane are inoperable.”
The issue affects 137 Boeing 787 aircraft in the U.S. and 1,010 planes across the world.
Chicago-based Boeing manufactures and sells airplanes, rockets, satellites, human space flights and launch systems, and missiles. It also provides leasing and product support services.
The stock closed 0.9% up on Friday. It gained another 0.3% in the extended trading session to end the day at $226.53.
Wall Street’s Take
Recently, Morgan Stanley (NYSE: MS) analyst Kristine Liwag reiterated a Buy rating on Boeing with a price target of $274 (21.3% upside potential).
Additionally, Charles Minervino, an analyst with Susquehanna, maintained a Buy rating and a $243 (7.5% upside potential) price target on the stock.
Overall, the stock has a Strong Buy consensus rating based on 13 Buys and 3 Holds. The average Boeing stock forecast of $269.07 implies 19.1% upside potential. Shares have gained 10.6% over the past year.
TipRanks data shows that financial blogger opinions are 66% Bullish on the stock, compared to the sector average of 71%.
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