Another day, another kick in the teeth for aerospace stock Boeing (BA), as we discover the Starliner project is pretty much persona non grata at NASA until “at least late 2025.” Oh, and the strike news is not looking particularly good either. Yet, Boeing investors are keeping their upper lips stiff and their chins up, sending Boeing shares up 1.5% in Wednesday afternoon’s trading.
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With Boeing’s astronauts still on the International Space Station, awaiting a ride home on a SpaceX flight, it will probably not come as much of a surprise that NASA is not particularly eager to launch another Starliner flight any time soon. In fact, new reports from The Daily News say that Boeing is out of the running until at least late 2025.
The next two missions as part of the Commercial Crew Program are both going to SpaceX, noted the report, with Boeing potentially available to get a Starliner run-up late in the year if it can get certified.
Meanwhile, Strike Updates
“Pension, pension, pension!” That is the hue and cry in Washington state right now, as Boeing strikers continue their push toward a better contract. And with members of Congress starting to call on Boeing directly, there is a clear impetus to make a deal.
Boeing’s cost-cutting measures are clear, and with plans already on the table to raise a good slug of cash from stock sales, Boeing needs to get its machinists back in and operating to clear the backlog of orders it already has on the table. It was already having a tough time meeting those orders under normal circumstances, especially with a Federal Aviation Administration (FAA) cap in place on production. The strike, meanwhile, has all but halted production.
Is Boeing a Good Stock to Buy Right Now?
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 16.88% loss in its share price over the past year, the average BA price target of $199.61 per share implies 29.31% upside potential.
