In a bit of counter-intuitive market activity, word emerged about another setback in space for aerospace company Boeing (NYSE:BA). But this time, another delay sent shares up nearly 2% as previous plans between Boeing and Lockheed Martin (NYSE:LMT) have been altered a bit.
The newest reports suggest that the Boeing/Lockheed joint project will once again launch a dummy payload into space rather than the Dream Chaser plane that was expected to launch this September. Boeing and Lockheed were looking to get their new Vulcan rocket properly certified on that date and were planning to launch the Dream Chaser along with it, a development of Sierra Space.
Nevertheless, this decision works out for everyone: Boeing and Lockheed need to successfully fly Vulcan a second time in order to get certified by the Department of Defense, which will let them carry out DoD launches. For Sierra Space, the delay means less pressure and more time to make sure Dream Chaser’s first flight goes smoothly, which is important since they plan to reuse the spacecraft.
Musk Pokes the Bear
Meanwhile, Elon Musk—himself a controversial figure in many rights—decided it was time to stir up some trouble on the Boeing front by giving voice to a widely-held criticism. On his X platform, formerly Twitter, Musk noted that “The CEO of an aircraft company should know how to design aircraft, not spreadsheets.”
Here, Musk refers to Boeing CEO David Calhoun’s degree in accounting. That’s been a common criticism of Boeing lately, suggesting that when “the accountants got in charge,” they focused on short-term profit over things like safety.
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, six Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 14.81% loss in its share price over the past year, the average BA price target of $211.19 per share implies 18.29% upside potential.
