We all know that aerospace stock Boeing (BA) is known for exciting designs in aircraft, and for its military aircraft as well. But Boeing made a move not so long ago that could have seen it supplying the Rebel Alliance from Star Wars, as it made its own X-Wing aircraft. Granted, this one could not hit hyperspace, but it was still an impressive enough sight. The news left investors a little less than pleased, though, as Boeing shares slipped fractionally in Wednesday afternoon’s trading.
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The fully flight-capable Boeing X-Wing is currently on display at the Smithsonian National Air and Space Museum, and was originally built for the Rise of the Resistance attraction at what was Disney’s (DIS) Galaxy’s Edge attraction. Boeing, via its NeXt division, was brought in to make the aircraft, which were drones measuring 20 feet by 17.5 feet.
Reports noted that the drones in question were basically just drones with a skin of X-Wing-shaped fuselage, but boasted an electric vertical takeoff and landing (eVTOL) system. The system in question was prototyped back in 2017, and subsequently ran through wind tunnel testing in 2018, before running a set of 150 test flights. Boeing shut down the NeXt division in 2020, but the technology remains, and may well be put to use elsewhere.
“Publicity Stunt”
We also heard just recently about the St. Louis strike, and that Boeing workers are set to vote on a new contract they will send on to Boeing, assuming it passes muster with the union in a vote on Friday. But whether or not it does, it seems that Boeing will not take it regardless, based on a statement from Air Dominance vice president and general manager Dan Gillian.
Gillian released a statement, which read in part: “I wanted to share my thoughts on the union’s plan to vote on an offer that the company has never made, including terms we’ve expressly told them we won’t accept. Sadly, this is a publicity stunt that’s a waste of your time and will not help bring an end to the strike. My main objective is to bring all of you back to work within the economic framework of the deal the union has twice endorsed. The union’s approach creates false expectations and will only prolong the strike for all of you who’ve already lost an average of $15,000 in income. We remain open to engage in discussions. But as we’ve said many times, the overall economics of our offer will not improve.”
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 17 Buys and two Holds assigned in the past three months, as indicated by the graphic below. After a 38.62% rally in its share price over the past year, the average BA price target of $261.82 per share implies 21.56% upside potential.
