In the wake of its multitude of challenges in recent months, from tires falling off its planes, disappearing whistleblowers, and regulatory probes, Boeing (NYSE:BA) is gearing up for a major test this week. The aerospace giant is set to carry astronauts aboard its Starliner ship for NASA today.
Boeing’s Big Space Test
The company’s Starliner will transport NASA astronauts Sunita Williams and Barry Wilmore to the International Space Station (ISS) and return to Earth in around a week, marking a critical space test for Boeing. Today’s space flight follows years of project delays and Boeing ceding a lead in the space race to Elon Musk’s SpaceX.
Comes Amid Boeing’s Multiple Challenges
Importantly, this week’s space mission occurs as Boeing grapples with numerous challenges in its operations. Recently, two Boeing whistleblowers have passed away, and the company faces allegations from at least 10 more whistleblowers, as reported by the NYPost.
Additionally, the U.S. Department of Justice (DOJ) is expected to determine if Boeing violated a deal to avoid criminal charges related to two 737 Max crashes later this month. May is shaping up to be a critical month for Boeing, as the company is also scheduled to present its safety plan to the FAA.
But BA’s Success Could Open New Doors
Amid these developments, the success of the NASA mission could potentially pave the way for the company to conduct space missions regularly. Nearly a decade ago, both Boeing and SpaceX secured contracts to develop new spacecraft for NASA. Since then, Boeing has encountered glitches in its flight attempts, while SpaceX has successfully completed multiple missions ferrying astronauts over the years.
What Is the Price Forecast for BA Stock?
Boeing’s troubles have been weighing heavily on its share price, which is down by nearly 31% so far this year. Overall, the Street has a Moderate Buy consensus rating on the stock, alongside an average BA price target of $222.48.
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