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Boeing (NYSE:BA) Loses CIO, Makes Inroads With Brazilian Airline
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Boeing (NYSE:BA) Loses CIO, Makes Inroads With Brazilian Airline

Story Highlights

Boeing loses another of its top brass, but its arrival in Brazil is lending a hand to a major airline therein.

It is good news and bad today for aerospace stock Boeing (BA) as a roster move and a filled order happened right around the same time. What Boeing lost in its C-suite, it made up for on the factory floor. This left investors only mildly concerned, and left shares down fractionally in Monday afternoon’s trading.

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Kelly Ortberg, current CEO, sent a memo at the close of business on Friday—noted a BNN Bloomberg report—that then-Chief Information Officer Susan Doniz was bailing out of Boeing. The change was effective immediately, and Dennis Eng stepped in to take over the lead post on the Information Technology & Data Analytics team. Eng will hold the position only temporarily, and will vacate it when a new leader is found.

It is not immediately clear why Doniz departed, though she has only been with the company since 2020. Yet it represents a disturbing sign overall, as Boeing has also lost its defense division head, its head of communications, and its chief lobbyist in recent days. Boeing is losing a lot of top brass, and even Ortberg himself has only been on the job for a little over four months.

Improving in Brazil

Meanwhile, Boeing managed to ship some planes, and as a result, things are looking up for the Brazilian airline Gol. A Reuters report noted that Gol is looking for “good prospects” going into 2025 thanks in large part to the new 737 Max aircraft that Boeing delivered. Interestingly, all of Gol’s fleet is made up of 737s.

It may seem unlikely that the new aircraft would make that much of a difference, but given that Gol is currently running under bankruptcy protection in the United States, having any asset on hand that could produce cash is welcome news. Gol noted that the new aircraft would “…strengthen our operation.” Meanwhile, Gol is out to “…make the most of the potential of our current fleet.” With the new planes arriving just in time for the busy travel season in Brazil, these new planes may actually make that much of a difference.

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 12 Buys, seven Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 32.64% loss in its share price over the past year, the average BA price target of $190.29 per share implies 7.5% upside potential.

See more BA analyst ratings

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