So what is the HIVE? The HIVE is aerospace stock Boeing (BA) and the Center of Science and Industry’s new attempt to make a workforce training center in Newark, Ohio. The effort seems mostly lost on investors, though, who sent Boeing shares down fractionally in Tuesday afternoon’s trading.
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The HIVE is designed to drive students’ interest in technical careers using a combination of hands-on learning and virtual reality hardware that gives students a look at aerospace and manufacturing operations. Boeing put up half a million dollars for the Center to put the program together. In turn, the HIVE will get a two-year road show featuring 20 cities where Boeing and the Center will show off the technology involved.
So why start things off in Central Ohio? Boeing and the Center noted, “Central Ohio is home to one of Boeing’s most significant manufacturing operations in the country. The HIVE launch in Newark is not incidental to that – it is intentional. By activating in communities where Boeing and its suppliers actively hire, The HIVE creates a visible, credible path from a student’s classroom to a career in aerospace, advanced manufacturing or emerging technology.”
New Order
In perhaps better news, Boeing also managed to land a new order from Copa Airlines, which put in an order for 60 737 MAX aircraft. The deal was valued around $13.5 billion, reports note, with deliveries expected somewhere between 2030 and 2034.
Copa already had a deal with Boeing for 40 aircraft still awaiting delivery, reports note, which will allow Copa to add over 100 new planes to its roster over the next eight years. By 2034, Copa will have better than 200 aircraft under its control. The deal with Boeing also gives Copa a lot of operational freedom, with Copa able to choose between the MAX 8, MAX 9, and MAX 10 aircraft as part of the deal.
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 27.1% rally in its share price over the past year, the average BA price target of $274.21 per share implies 19.4% upside potential.
