More news recently emerged about aerospace stock Boeing (BA) and its delivery schedules in 2024. The news was especially good for United Airlines (UAL), who landed the highest number of Boeing deliveries for 2024. Sadly, the total number of planes delivered was not especially substantial, and Boeing investors turned on the company, sending shares down modestly in Friday afternoon’s trading.
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United, as it turned out, proved to be Boeing’s top customer. United took in 36 Boeing aircraft overall throughout 2024. Not far behind that was Ryanair (RYAAY), with 31 aircraft and Air India Express, who brought 27 Boeing craft into its operations.
United is one of the largest air carriers in the United States, so its addition of so many new aircraft is little surprise. Ryanair, however, was engaging in a fleet expansion in 2024, and turned to Boeing to provide much of the backbone for that. Finally, Air India Express was out to expand its presence internationally, and so needed planes capable of long distance travel.
Innovation! Really!
On the back of this news came word from Boeing itself, who described how there was “…more innovation underway today at Boeing than at any time in our storied history.” Boeing has apparently put over $3 billion behind research and development operations, and offered up some notes on the irons it had in the fire right now.
Indeed, several of the developments made quite a bit of sense. One study with Cambridge University is looking into the impact of lightning strikes on airplane parts. Another is working on sustainable aviation fuel. Still another is working with “advanced ceramics technologies that withstand extreme environments.” If these studies pay off, Boeing may not only be able to offer exciting new options for its own planes, but possibly may make a new revenue stream licensing at least some of these out.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 13 Buys, five Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 12.46% loss in its share price over the past year, the average BA price target of $196.12 per share implies 7.49% upside potential.
