MAXR - Maxar rises 1.1% as TD upgrades to Buy on valuation

Maxar Technologies (MAXR) is 1.1% higher following an upgrade to Buy at TD Securities. That's a move based on valuation, after the stock has declined some 30% since a late January peak. TD highlights several positives the stock exhibited going into its run-up: growing management credibility; declining financial risk; an increased focus on 2022-2023 earnings potential; and an appreciation of Maxar as a pure play on space-based investment by government agencies around the world (as well as a growing pool of commercial customers). "We believe that investors who appreciate a turnaround story with limited pandemic and economic exposure, and space-investment-driven growth potential, should increase exposure to Maxar Technologies," it says. A target price of $51 now implies 32% upside. Wall Street analysts are Bullish on Maxar, as are Seeking Alpha authors. The stock has a Quant Rating of Bearish, though.

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Maxar rises 1.1% as TD upgrades to Buy on valuation