The latest strike at aerospace stock Boeing (BA) continues unabated, with no talks yet on the schedule, and the strikers turning to a surprisingly desperate ploy. Boeing strikers at the St. Louis area plants are calling on lawmakers to step in and help deliver a contract. This did not sit well with Boeing investors, though, and they sent shares down fractionally in Wednesday afternoon’s trading.
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Tom Boelling, Directing Business Representative for IAM District 837, made it clear: “IAM District 837 members have spoken loud and clear, they deserve a contract that reflects their skill, dedication, and the critical role they play in our nation’s defense.” To that end, IAM has called on Missouri lawmakers to step in and push Boeing toward actually coming back to negotiate.
While the District 837 workers are a big part of Boeing’s operation, handling a large part of the fighter jet operations and munitions work, they produce certain components for Boeing’s commercial aircraft line as well. But the operation is about a tenth, give or take, the size of the one that went on strike last year. It is something of a surprise that Boeing strikers have not sought President Trump’s help, especially given how many planes Trump has had a hand in moving for Boeing.
Air India Retrofit
With the Air India disaster likely still ringing in its collective, and largely metaphorical, ears, Air India has launched a program to retrofit the 787 aircraft in its fleet. The program impacts 26 aircraft in total, reports note, and will add a slate of features to the aircraft in question.
The retrofit will bring, among other things, a new “three-class configuration with Business Class, Premium Economy, and Economy Class seats.” Each cabin will get new seats and new in-flight entertainment systems. There will be plenty of new fixtures as well; carpeting, curtains, upholstery, galleys, and even lavatories will be getting replacements as part of the move. This should go quite a way to ensuring passengers pick Air India when traveling therein.
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 19 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 38.05% rally in its share price over the past year, the average BA price target of $256 per share implies 10.15% upside potential.
