Call it a stroke of irony that just keeps on delivering, but aerospace company Boeing (NYSE:BA) may have a new problem on its hands out in space. While it took a long time and several delays to get the Starliner out into space, it’s taking almost as many to get it back. But Boeing shareholders proved resistant to this latest bit of bad news, and shares made fractional gains in Monday afternoon’s trading.
We’ve heard more than once about how Boeing’s Starliner was delayed in its launch and then in its return. Return dates were pushed back, and back, and way back, and now….there is no return date. The return of Starliner to sweet mother Earth has been delayed “indefinitely,” noted NASA officials.
Reports subsequently emerged to suggest this wasn’t a problem. Astronauts routinely have to push back their return trip dates days or weeks, sometimes even months. The latest signs suggest that the earliest possible return will be after July 2, as there’s a spacewalk scheduled for that day.
Not Going as Planned
It’s no secret that Boeing aircraft have been turning in disaster after disaster over the last few weeks. Engines on fire, chunks falling off, it’s a litany of mechanical failures that makes a Boeing aircraft look like a clown car that sprouted wings. But the manager of Boeing’s Starliner program delivered terrible news, noting that, while the issues were “manageable,” “…it’s still not working like we designed it.” This goes without saying, particularly considering the sheer number of issues it’s encountered. But it doesn’t do the beleaguered aircraft maker any favors.
Is Boeing Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 17 Buys, seven Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 13.58% loss in its share price over the past year, the average BA price target of $213.70 per share implies 20% upside potential.
