UPDATE: Truist Securities Starts Maxar Technologies Ltd (MAXR) at Buy; Well-Positioned in Space Market
- S&P 500, Dow slip as focus turns to tech earnings
- Kansas City Southern (KSU) Soars as Bidding War Brews After Canadian National Railway (CNI) Makes a $33.7 Billion Offer
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Boeing (BA) Down 3% After CFO - Aged 54 - Retires, Seen as an 'Odd' Move
- Tesla (TSLA): Problems in China Mounting as Communist Party Officials Ask Company to 'Respect Chinese Consumers and Comply with Local Laws'
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
(Updated - March 16, 2021 4:18 PM EDT)
Truist Securities analyst Michael Ciarmoli initiates coverage on Maxar Technologies Ltd (NYSE: MAXR) with a Buy rating and a price target of $59, saying it is well positioned to capitalize and exploit emerging commercial/government space requirements.
The analyst commented, "As an underfollowed SMID-cap vertically integrated space pure-play, we believe MAXR is well positioned to capitalize and exploit emerging commercial/government space requirements over the next decade. MAXR is a global leader in Earth Observation and accompanying data analytics, with an expansive image library derived largely from their proprietary satellite constellation. The company’s Space Infrastructure segment has produced more GEO satellites than any other company, recently developed the Legion bus, and is the awardee for several transformational space exploration programs with NASA. We believe the combination of increasing LEO satellite demand and increasing global space spending will anchor top line growth, while simultaneously expanding margins, and reducing leverage."
Shares of Maxar Technologies Ltd closed at $47.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Much More than a "Thred": Analysts Positive as Street Kicks-Off ThredUp (TDUP) Coverage
- S4 Capital Plc. (SFOR:LN) PT Raised to GBP6.70 at Jefferies
- Sandstorm Gold Ltd. (SSL:CN) (SAND) PT Raised to Cdn$15.40 at Stifel Canada
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot New Coverage, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!