UPDATE: Canaccord Genuity Upgrades Maxar Technologies Ltd (MAXR) to Buy

Canaccord Genuity analyst Ken Herbert upgraded Maxar Technologies Ltd (NYSE: MAXR) from Hold to Buy with a price target of $38.00.

The analyst comments "We believe that shares of MAXR are now undervalued and are increasing our rating to BUY, with a $38 price target. The considerable stock market turmoil this week now has the stock trading at 8.5x NTM EBITDA, which we view as pretty inexpensive considering the average 3-year multiple of 9.4x. Considering that ~50% of the Legion constellation is nearing mission readiness now, we believe it is time to do a little clearance shopping considering the company’s robust fundamental backdrop (Legion, EOCL, Ukraine)."

For an analyst ratings summary and ratings history on Maxar Technologies Ltd click here. For more ratings news on Maxar Technologies Ltd click here.

Shares of Maxar Technologies Ltd closed at $28.84 yesterday.

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