Troubles continue to mount at aerospace giant Boeing (NYSE:BA). At least 50 passengers were injured on a LATAM (OTC:LTMAY) flight from Sydney to Auckland after a technical glitch caused a Boeing 787-9 to suddenly lose altitude.
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According to reports, some passengers and crew were “thrown into the roof” of the plane, and nearly 12 people were rushed to hospital after the flight landed. Last week, a United Airlines plane (Boeing 737 max 8) rolled off the runway at Houston airport. In another incident, a tire flew off a Boeing 777-200 plane after takeoff from San Francisco. The incident led to an emergency landing in Los Angeles.
The latest incident involving a Boeing plane comes even as the Department of Justice (DOJ) opened a criminal investigation into a door panel blowout at 16,000 feet in a Boeing plane (737 max 9). The door panel incident took place in January.
Boeing, for its part, is shaking up bonus structures for its workforce to bring in more accountability regarding safety and quality. Still, investor sentiment in the stock, which is down nearly 3.8% today, is running low.
Is BA a Good Buy Right Now?
The company’s stock price has corrected by nearly 27% year-to-date. Overall, the Street has a Moderate Buy consensus rating on Boeing stock alongside an average price target of $262.79. This points to a potential upside of nearly 37.8% in the stock.
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