A New Assembly Line at Everett? Boeing Stock (NYSE:BA) Slips as Expansion Considered
We know that aerospace stock Boeing (BA) has been struggling to get its production back up to snuff, even to hit the limits established by the Federal Aviation Administration (FAA). But Boeing might be on track to get its production back up and running full-tilt, and a new expansion could be proof of that. The news did not sit well with shareholders, though, as share prices slipped fractionally in Friday afternoon's trading.
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Boeing wants to get its numbers back up, particularly as the Chinese market is coming back online and offering up a potential new gold mine of orders for Boeing. In fact, Kelly Ortberg—Boeing's CEO—recently noted that the Everett plant may get an entire production line for the 737 Max 10 jet. The interesting part about this is that the jet in question has not yet been certified by the FAA for use, despite efforts to get it to that point.
Boeing has had plans to ramp up the new Max production capabilities in the works since 2023, reports noted, but the plans have not yet been made concrete. With this new line, it represents a huge step forward and the very real possibility of the Max 10's certification soon. After all, why set up a production line for a plane you are not allowed to build by law?
Another DEI Shutdown
Meanwhile, Boeing also pared back a diversity, equity and inclusion (DEI) program, which works to bring it toward a goal of '…ensur(ing) compliance with the law.' Boeing shut down both events and funding for two programs: diversity councils and business resource groups. Boeing has nine such groups within its operations, serving as 'affinity groups,' or groups that worked '…connect and develop individuals with a common interest or identity, including race and gender.'
It is worth noting that these groups are apparently 'open to all workers,' though one wonders how those workers who are not in line with the affinity group in question are treated. Boeing has already shuttered its entire DEI department as far back as November, and its head ultimately left Boeing altogether.
Is Boeing a Good Stock to Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on BA stock based on 15 Buys, four Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 17.21% rally in its share price over the past year, the average BA price target of $213.37 per share implies 3.34% upside potential.
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