Aerospace stock Boeing (BA) is known for a lot of things these days. Aircraft, military hardware, missile guidance…all of that is on the table and more. In fact, it may have gained a new primacy as a leader in an unexpected field: firefighting. Coulson Aviation has stepped in on Boeing’s side on this one, and is now in full support of Boeing. This gave Boeing stock a bit of a boost, as it was up fractionally in Wednesday afternoon’s trading.
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More specifically, Coulson is getting behind the Boeing 767, believing that this platform could be the biggest new thing in airtanker firefighting. This move came as many of the more standard airtanker firefighting platforms like the DC10 are reaching the end of operational lifespans. The Boeing 767, meanwhile, is stepping into the gap and proving its worth as a great way to get a lot of water over the top of fire in remote areas.
To that end, Coulson is launching the Boeing 767 Very Large Airtanker (VLAT) program, calling it a “…significant advancement in the evolution of aerial firefighting capability. Coulson Aviation president and CEO Britt Coulson noted, “The 767 is a proven widebody platform with global support, parts availability, modern systems, and compelling operating economics. Our program builds on those strengths and will deliver performance beyond what legacy VLATs can provide.”
Boeing’s American Concorde, Rotting Away in Florida
Meanwhile, as it turns out, Boeing had a bit of a replacement lined up for the Concorde, the world-renowned supersonic jet. The Boeing 2707, as it was known, was part of a project between Boeing and the United States government. But the government canceled the project, and ultimately left the 2707 rotting in a field in Florida.
The American version was set to not only be faster than the European version, but would also carry more people. But the United States canceled the project, which had reached the point that Boeing had built a wooden mockup version. The mockup was moved to a museum, where it was displayed until 1981. Several other museums had their hands on the mockup over the years, and it is currently at the Museum of Flight’s restoration center in Seattle.
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 13 Buys, two Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 20.22% rally in its share price over the past year, the average BA price target of $249.92 per share implies 14.64% upside potential.
