One part of aerospace stock Boeing’s (BA) roster is military-related, and thus, should provide a prop to Boeing earnings for a very long time to come. A lot of today’s news about Boeing is actually military related, and resonated with shareholders, sending shares up fractionally in Friday afternoon’s trading.
One of the first new developments comes from the F-15, a long-running Boeing project that has been a major part of air force operations the world over. But a new feature coming out should improve the likelihood of countries going with the F-15 for their aircraft needs: a new infrared sensor that allows for search and track functions.
Found on the F-15 Advanced Eagle line, the new sensor is actually a step ahead of most conventional sensors. Most infrared search and track (IRST) sensors are built into pods or pylons, reports note. But the new one is actually built near the cockpit, which would offer a few distinct advantages. However, the reports note that the idea of Boeing having the new sensor located ahead of the cockpit may simply be a mock-up for display purposes, as the reports did not come from official channels.
Rocket Layoffs, Maritime Aircraft
The news continued on from there. Boeing also staged the first flight of the new Poseidon P-8A maritime patrol aircraft, reports noted. The Poseidon P-8A will be a major part of the German Navy, and Boeing staged the flight at its Renton, Washington office. With this maiden flight now complete, the aircraft heads for the Everett facility to receive critical mission systems, and eventually, delivery to the German Navy.
But there was also bad news for Boeing’s space ambitions, as Boeing planned to lay off 89 employees at the Michoud Assembly Facility. Located in New Orleans, it specifically relates to the Artemis II lunar program, which has come under fire in recent days. Indeed, as the United States looks away from the moon and more toward Mars, there are only more questions about Boeing’s ability to sustain the Space Launch System (SLS) program.
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 13 Buys, five Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 14.45% loss in its share price over the past year, the average BA price target of $196.88 per share implies 12.94% upside potential.
