The National Transportation Safety Board (NTSB) has recently released its preliminary report on Boeing’s (NYSE:BA) door plug blowout event involving Alaska Airlines (ALK) that occurred last month. One of the main reasons for the accident, according to the regulator, was that four crucial bolts securing the door plug were missing.
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As per BA’s records, the fuselage door plug was opened on September 1 at the company’s Renton, Washington, facility to repair damaged rivets. The NTSB suspects that the bolts were accidentally left uninstalled following the completion of repair work.
The regulator said that 135 of the 144 U.S. 737 MAX 9 jets that were grounded after the accident have gone through inspections and resumed flying. Following the incident, the Federal Aviation Administration (FAA) put a brake on BA’s Max jet production growth plans. Also, Boeing is expected to remain under increased scrutiny from regulators going forward.
Is BA a Good Buy Right Now?
With 17 Buy and six Hold recommendations, BA stock has a Moderate Buy consensus rating. Analysts’ average price target of $262.67 implies 25.93% upside potential over the next 12 months. Shares of the company have declined by about 20% so far this year.
