MAXR - Maxar Technologies jumps to monthly high as Morgan Stanley names it a top pick
Maxar Technologies (MAXR +8.9%) rises as Morgan Stanley calls the stock its top pick within government services & technology coverage. "The stock has notable upside that will be driven by revenue growth from its new satellite constellation, WorldView Legion, and rebounding margins from stabilized operations at its Space Infrastructure business," writes analyst Matthew Sharpe. According to Sharpe, management sounded confident during the Q3 earnings call in hitting multi-year financial targets and launching Worldview Legion in 2022. Morgan Stanley notes that Maxar trades at a ~25% EV/EBITDA discount to peers and raises its price target on the stock to $47, representing 41% upside from its current price. The average sell-side price target is $42.60 with the majority of analysts being bullish on MAXR.
For further details see:
Maxar Technologies jumps to monthly high as Morgan Stanley names it a top pick