So aerospace stock Boeing (BA) has not been doing well of late. It is dropping the ball all over the place. Backlogged orders are out the door and into the street. And perhaps its biggest order ever, the next Air Force One, is delayed so far that the current president, who ordered it in his previous administration, will never actually fly on it. Enter Elon Musk and DOGE, the Department of Government Efficiency, who wants to change that. This was not good news for Boeing, whose shares slid nearly 3% in Thursday afternoon’s trading.
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Reports from none other than Kelly Ortberg himself are revealing that the DOGE team is stepping in to help bring order to the chaos that is Boeing’s supply chain, and hopefully, will get the previously-ordered Air Force One planes to the guy who ordered them over five years ago and is still waiting on them.
Ortberg, for his part, declared that Musk was “…able to pretty quickly ascertain the difference between technical requirements and things that we can move out of the way.” Further, Ortberg revealed, Musk’s presence has been “…actually helping us a lot,” reports note, a move which could bear fruit for Boeing down the line if it can take some key learnings from this experience and apply them to future projects. Maybe Boeing’s massive backlog could be reduced to something a little more manageable that way.
Not the Only One Mad
So while President Trump is considering canceling the Air Force One order and going with used aircraft instead, modified to meet the needs of the presidency, it turns out Trump is not the only one at the end of its patience with Boeing. Leonardo, in Italy, is also looking for a new partner for its aerostructures unit after multiple delays from Boeing.
Leonardo has been trying to squeeze a profit out of its aerostructures operations for years now, reports note. Even having Boeing for a client—Leonardo makes two sections of the 787—has not helped much. Now, Leonardo is looking for a new “investment partner,” reports noted, and also plans to completely restructure the four plant, 4,000 employee unit.
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 10.11% loss in its share price over the past year, the average BA price target of $196.88 per share implies 8.82% upside potential.
