Good news for aerospace stock Boeing (BA) hit today, in a move that left investors feeling clearly enthusiastic. Boeing’s Wisk Aero subsidiary managed to complete its first flight on Generation 6 aircraft, which puts it that much closer to certification. Investors gave their approval, demonstrated by a modest increase in Boeing share prices in Thursday afternoon’s trading.
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Wisk Aero wants to be the first firm to achieve Federal Aviation Administration (FAA) certification for an air taxi system without a human pilot. Once that happens, Wisk then looks to commercialize the product. Several test markets are already in place, reports note, including Miami, Los Angeles, and Houston. The latest successful tests represent what Wisk calls a “pivotal moment” in its efforts.
Wisk was originally the product of a team-up between Boeing and Kitty Hawk Corp., which was actually an electric aviation company that Larry Page invested in. But Kitty Hawk shut down operations in 2022, leaving Boeing mostly in charge. So far, Wisk has run over 1,750 test flights on the five previous generations of aircraft. This could put Boeing in a position to offer air taxi service in a time when even ground-based autonomous taxi systems are still struggling.
Another Discrimination Suit
The news was not all good for Boeing today, though, as reports emerged that a former Boeing employee in St. Louis is suing over “…workplace discrimination based on race, national origin and religion.”
Amani Albalushi not only accused Boeing of discrimination, but also of establishing a hostile work environment, as well as engaging in “retaliation.” Albalushi, a practicing Muslim from Oman, was part of the accounts payable department, where she received “positive feedback.” However, the suit alleges, her manager “…unfairly scrutinized her work and that of other employees of color. ” This led to their termination and the suit in question.
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 14 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 16.54% rally in its share price over the past year, the average BA price target of $249.54 per share implies 19.31% upside potential.
