Aerospace stock Boeing (BA) has been trying to get the 777-9 into customers’ hands for years now, and it has not been a smooth process. But recently, word emerged that put Boeing closer than ever to getting these planes in the skies as the first-of-model 777-9 got a test flight with its full interior in place. That news was welcome to shareholders, and Boeing shares gained modestly in Monday afternoon’s trading.
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Just days ago, the initial test flight for WH128, the first-of-model aircraft intended for eventual delivery to Lufthansa (DLAKY) launched from the Everett, Washington production site. The flight lasted three hours and 27 minutes, and was flown by Jake Miller and Ted Grady, a pair of Boeing pilots. The plane returned without incident, and reports noted that the flight was intended to “…test the airplane’s systems and structures.”
The fully-loaded 777-9 in question is also being used to set up baseline readings for future deliveries, and will also go through a set of tests on the ground, along with further flight tests. The aircraft is still expected to reach Lufthansa by the end of this year, though only time will tell if that proves true.
MD-11 Back in Service?
Boeing revealed that it had a plan in mind to get FedEx’s (FDX) MD-11 planes back in the air. Boeing needs regulatory approval of its plan first, reports note, but if the regulators sign off, then Boeing will start adding a new fix that gets FedEx back up and running.
A new “maintenance and inspection plan” is part of the package, as is the replacement of a small bit of hardware that keeps the plane’s engines attached to the wings. That hardware—a bearing—is actually a key component in the investigation around the first plane’s crash back in November. Boeing had actually warned about this part back in 2011, but noted that the failures did not pose a safety risk.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Strong Buy consensus rating on BA stock based on 15 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 19.56% rally in its share price over the past year, the average BA price target of $273.86 per share implies 14.33% upside potential.
