Aerospace major Boeing (NYSE:BA) declined in trading after some fresh trouble for the company. A whistleblower named John Barnett was found dead in his truck in a hotel’s car parking from a “self-inflicted” gunshot wound. Barnett had first raised concerns about Boeing’s production standards and was involved in a lawsuit with the company after uncovering serious problems with the planes’ oxygen systems.
Barnett had worked with Boeing for thirty years and retired in 2017. Boeing issued a statement following Barnett’s passing and stated, “We are saddened by Mr. Barnett’s passing, and our thoughts are with his family and friends.”
Meanwhile, New Zealand’s Transport Accident Investigation Commission seized the cockpit voice recorder and flight data recorder of the LATAM (OTC:LTMAY) flight from Sydney to Auckland after a technical glitch caused a Boeing 787-9 to suddenly lose altitude. This incident left more than 50 people injured.
The string of recent incidents involving Boeing’s planes has resulted in BA stock sliding more than 10% over the past month.
Is BA a Good Buy Right Now?
Analysts remain cautiously optimistic about BA stock with a Moderate Buy consensus rating based on 15 Buys and six Holds. The average BA price target of $262.79 implies an upside potential of 41.2% at current levels.
