Boeing Stock (NYSE:BA) Slips as Qatar Airways Pulls Order

Two weeks ago was a great week for aerospace stock Boeing (BA), but sometimes, it just seems like they may not be able to keep the break they try so fervently to catch. Qatar Airways reportedly shut down its order with Boeing, and instead, is turning to Airbus (EADSY) instead, reports note. But this news did little damage to Boeing shares, which only slipped fractionally in Tuesday afternoon’s trading.

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The reports noted that the order in question goes back to 2022, where Qatar Airways put in an order for as many as 50 737 Max 10 jets. That was 25 firm, with an option for 25 more. But considering that the 737 Max 10 has yet to be certified, it should perhaps prove no real surprise that Qatar Airways ultimately canceled that order. The notion of that cancellation has been active as a rumor for some time now, but now, Boeing has run afoul of the rumor made reality.

However, the order that was recently placed still stands, reports note, in which Qatar Airways posted an order for up to 210 jets in the 787 and 777X classes. But with the 737 Max 10 largely out of the picture for who knows how much longer, Qatar Airways instead turned its attention to an immediate rival: the Airbus A321neo.

A 777X Hurdle Removed

But in perhaps more positive news, Boeing addressed a problem that the 777X was facing, one that left testing in a temporary halt. Engine thrust links proved the issue in question, and now, Boeing is rolling out a set of newly redesigned models to help get the 777X back into the testing phase.

The 777X has been delayed several times so far, including back to 2020, which featured an “uncommanded pitch event” that caused the nose to rise and fall without any sort of direction from the pilot. This is a serious problem by any measure, and it delayed certification several years, particularly as it came during the same time as the COVID-19 pandemic. Still, the 777X is making its way into the field, and it is about time; reports note that, if the 777X does go live in 2026, it will still be six years behind originally-planned schedule.

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 15.58% rally in its share price over the past year, the average BA price target of $213.37 per share implies 5.77% upside potential.

See more BA analyst ratings

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