Following years of project snags, the inaugural crewed flight for Boeing’s (NYSE:BA) Starliner spacecraft was expected to take off yesterday. However, the launch was delayed owing to an issue with the Atlas V rocket that was supposed to take the ship into orbit.
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The Wait Continues
The Atlas V is made by the United Launch Alliance (ULA), a joint venture between Boeing and Lockheed Martin (NYSE:LMT). Although backup dates for the launch are set for May 7, May 10, and May 11, the companies have not yet announced a new launch date.
The spacecraft was scheduled to carry NASA astronauts Sunita Williams and Barry Wilmore to the International Space Station (ISS) and return to Earth in about a week. However, ULA announced the delay just two hours before takeoff. While the Atlas V has been in use for years, Monday’s mission would have marked its first use for ferrying astronauts to space.
Unfortunately, the mission ended up being another setback for Boeing, plagued by a glitch. Over the years, Boeing has encountered various issues with the Starliner, ranging from software glitches to stuck valves. In contrast, SpaceX, another contractor hired by NASA nearly a decade ago, has achieved multiple successful astronaut missions. Just yesterday, SpaceX flawlessly launched satellites for its Starlink program from Florida.
What Is the Target Price for BA Stock?
Boeing’s share price has declined by nearly 16% over the past three months. Overall, the Street has a Moderate Buy consensus rating on the stock, alongside an average BA price target of $222.48.
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