Sometimes face time is the best policy, especially when you are trying to sell something. A personal appearance from a company’s CEO can make a lot of difference with potential customers. Aerospace stock Boeing (BA) is no different, and Kelly Ortberg is looking to join President Trump on the upcoming trip to China. That was good enough for investors, who gave Boeing shares a fractional boost in Thursday afternoon’s trading.
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Ortberg previously noted that China had a plan to purchase a “big number” of aircraft from Boeing. That plan is somewhat on hold, though, as relations between the United States and China have soured a bit in recent months. However, with President Trump heading back to China, that may turn things around, and open up the opportunity for Ortberg to finally seal the deal and actually land the orders.
Such an order, meanwhile, would be a huge boost for Boeing, and would also deny such orders to Boeing’s immediate competitor Airbus (EADSY). With Boeing looking to ramp up production on several jets, including some that will hopefully clear approval processes sometime this year, the extra cash would certainly help matters.
The Unexpected Importance of the EA-18G Growler
While there are certainly more high-profile jets in the United States Navy’s arsenal, there is one that, according to reports, is a lot more vital to operations than some might think. That aircraft is Boeing’s own EA-18G Growler, and those same reports note, “Every offensive airborne electronic attack mission flown by any American service branch now gets done by Navy Growlers—or it does not get done at all.”
The report goes on to note that the Growler does not get the “press” that its contemporaries do, but the Growler is absolutely vital to protecting every other aircraft from the hazards posed by a modern air defense network.
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 16 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 19.94% rally in its share price over the past year, the average BA price target of $274.27 per share implies 18.85% upside potential.
