MAXR - Maxar soars 14% as Goldman Sachs starts at Buy on twin business outlooks

3DSculptor/iStock via Getty Images Maxar Technologies (MAXR) is up 14.2% to a three-month high after Goldman Sachs initiated coverage at Buy. Maxar has "a gem business in Earth Intelligence and a turnaround opportunity in Space Infrastructure," analyst Noah Poponak says. In its Q1 earnings report, Maxar fell after a substantial miss of expectations - though revenues still grew as double-digit gains in Space Infrastructure sales (up 17.4%, to $155M) more than offset a decline of 7.7% in Earth Intelligence (to $250M). “Maxar is the world leader in high resolution earth imagery. This is high margin, recurring business, that has compounded cash flows for years,” he says. As for Space Infrastructure, that market went through a downturn but is turning around now, and Maxar is in good position in the long term, he adds. The firm has a $52 price target, now implying 27% further upside beyond today's double-digit price appreciation.

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Maxar soars 14% as Goldman Sachs starts at Buy on twin business outlooks