A satellite made by aerospace company Boeing (BA) has exploded in outer space.
The satellite, known as the IS-33e, was used to support telecommunications services here on Earth. But, after encountering an anomaly, the satellite broke apart. The satellite has been reported as a total loss.
The U.S. Space Force subsequently tracked 20 separate pieces of debris that resulted from the incident. However, none of these represents an immediate threat. Meanwhile, those who used the telecommunications services provided by the satellite are being routed to other assets.
Boeing’s Garage Sale
Separately, Boeing recently concluded a deal to sell off its Digital Receiver Technology (DRT), a Maryland firm that makes surveillance equipment, most of which is sold to the American military. DRT’s software is used by the intelligence, defense, and homeland security communities.
Terms of the deal were not disclosed.
Is Boeing a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 14 Buys, five Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 11.45% loss in its share price over the past year, the average BA price target of $197.83 per share implies 23.64% upside potential.
