UPDATE: Truist Securities Starts Maxar Technologies Ltd (MAXR) at Buy; Well-Positioned in Space Market

March 16, 2021 4:07 PM EDT
Get Alerts MAXR Hot Sheet
Price: $35.52 -3.35%

Rating Summary:
    4 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 5 | Down: 16 | New: 67
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(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."

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 $47.84 yesterday.

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