Stocks
Boeing Stock Tumbles Amid Labor Uncertainty
Boeing's stock has been down 5.2% over the past week amid labor uncertainty, trading at $211.81. Bernstein SocGen Group reiterated an Outperform rating and a price target of $298.00 on the company.
The Society of Professional Engineering Employees in Aerospace (SPEEA) voted to reject Boeing's proposal on August 21, authorizing a strike. The current contract expires on October 6, with no further talks planned.
A strike could begin on October 7 if no resolution is reached, affecting design work such as certification of the 737MAX-10 and 777X. Manufacturing engineers and technical support are integral to ongoing production programs.