Aerospace stock Boeing (BA) has been seen making a lot of moves in the Indian market lately, a move which has been odd to outside observers. While its plans for a full assembly line were stymied by lack of orders, a new plan to cut carbon consumption from Indian air travel has emerged. The move was worthwhile enough to shareholders, and shares stepped up fractionally in Wednesday afternoon’s trading.
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Boeing got together with the Hindustan Petroleum Corporation Ltd to put together a joint project that will pull some of the carbon out of Indian air travel. Specifically, the two firms will move to improve the sustainable aviation fuel (SAF) ecosystem, reports note. This will make more sustainable fuel options available to Indian airlines, and in turn, pare back carbon emissions.
With the two companies working together, India will move more rapidly toward developing “supportive policies” in regard to SAF development, as well as developing more SAF in general. Plus, establishing certification procedures for SAF producers will also come into play, and give more firms an opportunity to compete in this sector.
The 777X Gets Flight Tests Soon
Meanwhile, Boeing’s newest plane, the 777X, was recently spotted touching down in the Caribbean for its run of flight tests. No, it did not land in the ocean, which, given Boeing’s recent history might have been a good guess. Rather, reports note, it landed at Curacao after departing Boeing Field for a seven hour, 25 minute flight where it landed at Curacao.
Since the island has a climate of about 87 degrees Fahrenheit with 76.7% average humidity, Curacao is regarded as an excellent test site for anything in high temperatures and moisture levels. That will be a major part of the 777X’s operations, and should go quite a way toward getting this plane certified, produced, and in airports the world over.
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 8.85% loss in its share price over the past year, the average BA price target of $196.88 per share implies 5.84% upside potential.
