Some exciting new developments out of Boeing (NYSE:BA) today, as the beleaguered aircraft maker rolls out some new plans to step up autonomous aircraft inspections. Some less pleasant plans popped up as well, but overall, Boeing shares gained fractionally in Thursday afternoon’s trading.
Boeing has been working on ways to inspect aircraft without involving humans, which could be helpful or a step toward disaster, depending on how the plan is put to work. However, given that Boeing’s autonomous inspection plans are particularly focused on military aircraft right now, it’s safe to say they’ll be used alongside regular human inspections.
The plans call for the use of small drones developed by third parties with artificial intelligence-backed software algorithms that Boeing developed in-house. The combined effort should ultimately produce the ability to inspect aircraft more quickly and safely while lowering costs.
Boeing Goes Hollywood
Then, in perhaps the strangest bit of Boeing news for the day, Boeing is about to find itself the subject of a documentary. Rory Kennedy, director of “Downfall: The Case Against Boeing,” will be coming back to do a follow-up version with Netflix (NASDAQ:NFLX). Of all the things Boeing didn’t need right now, “an uncomplimentary documentary” is pretty high up on the list, somewhere around “thumb screws” and “an IRS audit.”
And then, just to drive the last nail in the coffin, a recent Boeing/NASA press conference revealed that we have absolutely no idea when Starliner will be able to come home. The formerly week-long mission is now in its second month, and there are no signs of when the astronauts can come back. And there won’t be a decision soon, either, as the data review process continues.
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, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 15.24% loss in its share price over the past year, the average BA price target of $213.21 per share implies 15.74% upside potential.
