MAXR - Maxar slides 28% on earnings miss but analysts are buying the dip

Maxar Technologies (MAXR) has tumbled 28% in the wake of a miss on Q1 earnings, though reaction from analysts has rapidly coalesced toward the stance of "buy the dip." The quarter was dragged by the non-performance of the SXM-7 satellite program, Raymond James notes. (Revenues and profits were affected by a $28M charge from the program, without which CFO Biggs Porter said the company was in line with expectations.) Analyst Steven Li is looking ahead to catalysts in the Legion launch and EnhancedView new contract. TD Securities saw weight on the results from the additional delay in launching the WorldView Legion imaging constellation (and pressure on the ramp to 2023 from Legion's delay) as well as uncertainty around the EnhancedView deal. But the firm says any weakness is a good chance to invest in a well-positioned company for space opportunities. And Truist agrees: "Our core thesis remains intact and we

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Maxar slides 28% on earnings miss, but analysts are buying the dip