Boeing Co (NYSE:BA) issued the following statement following the settlement announcement by the U.S. Federal Aviation Administration.
Boeing appreciates the dedication of both the Federal Aviation Administration and Boeing personnel who worked to reach the agreement announced today. This agreement reflects Boeing’s deep and shared commitment to safety, quality and compliance – a commitment that has helped make travel on large commercial airplanes the safest means of transportation in history.
Boeing believes that this agreement not only fairly resolves announced and potential civil penalty actions – most of which date back years, and two of which were previously announced in 2012 and 2013 – but also will further enhance Boeing’s self-correcting quality and compliance systems. Under the terms of the agreement, Boeing has agreed to pay $12 million and make additional quality and compliance process improvements. Many of the improvements listed in the agreement have already been implemented or are in the process of implementation.
As a company we take responsibility for our actions, and we will never compromise on our commitment to quality and compliance – a commitment that is one of the core reasons we build the best airplanes in the world. We are actively working on the areas identified in the agreement and see this as another way to continually improve our compliance system. (Original Source)
Shares of Boeing Company closed yesterday at $140.9, up $1.32 or 0.95%. BA has a 1-year high of $158.83 and a 1-year low of $115.14. The stock’s 50-day moving average is $146.15 and its 200-day moving average is $140.40.
On the ratings front, Boeing has been the subject of a number of recent research reports. In a report issued on December 18, Wells Fargo analyst Sam Pearlstein downgraded BA to Hold. Separately, on December 15, Canaccord Genuity’s Kenneth Herbert maintained a Buy rating on the stock and has a price target of $165.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Sam Pearlstein and Kenneth Herbert have a total average return of -0.6% and 3.6% respectively. Pearlstein has a success rate of 50.0% and is ranked #2382 out of 3636 analysts, while Herbert has a success rate of 46.4% and is ranked #838.
The street is mostly Bullish on BA stock. Out of 8 analysts who cover the stock, 5 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $171.80, which represents a potential upside of 21.9% from where the stock is currently trading.
Boeing Co, together with its subsidiaries designs, develops, manufactures, sells and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services.