Things aren’t looking great at aircraft maker Boeing (BA). Despite the company’s recent changes, with plenty more likely to come over the next few months. Indeed, there’s new word about the Boeing CEO race and who could end up taking the top slot. Much has been made of this move in the last few months and a new candidate is said to be stepping in: Kelly Ortberg. Ortberg, former CEO of aerospace company Rockwell Collins, is being considered as an “outsider” candidate.
Though Boeing’s board hasn’t made a decision yet, it understands the necessity of getting this whole mess finally resolved. Also up for the slot is Spirit AeroSystems’ CEO Pat Shanahan, though that may end up being a little too close for Boeing’s liking.
Titanium Hunting
Meanwhile, Boeing is tearing up its supply chain in a hunt for forgeries. It’s turning to its suppliers in search of a paper trail going back 10 years about titanium supplies used in aircraft parts. It was possible, Boeing noted, that the titanium used could have been less than authentic, and so it’s digging back through the archives, trying to find what it can.
However, it’s unclear why Boeing is reviewing records for a full decade, as most of the issues with titanium are comparatively recent. Boeing’s connection to the issue may be limited, but its diligence in this matter might be what it needs to help rebuild lost confidence in Boeing aircraft after the string of mechanical failures seen lately.
Still, the stock is just not gaining traction with investors, as it’s down fractionally at the time of writing.
Is Boeing Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 16 Buys, five Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 22.31% loss in its share price over the past year, the average BA price target of $215.84 per share implies 16.21% upside potential.
