MAXR - Maxar Technologies takes wing as Legion launch remains on schedule

Maxar Technologies (MAXR +16.4%) shares soar after the space technology company reports adjusted EBITDA of $113M, ahead of consensus of $109.9M. Most importantly, Maxar is making headway on the launch of Worldview Legion, a constellation of six imagery satellites that the company will depend on to win future contracts from U.S. defense and intelligence agencies. The company remains on track to launch the first two Legion satellites between March and June 2022 after announcing the delayed timeline in August. Baird lifts its rating on the stock to Outperform from Neutral with a $39 price target after the timeline was confirmed. “The outlook has been considerably de-risked given visibility to Legion’s first launch, and current prices provide a safer entry point,” writes analyst Peter Arment. JP Morgan analyst Seth Seifman said that Legion's launch is "the most important event” in determining Maxar's future. Analyst Seth Seifman holds an Overweight rating on the stock with

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Maxar Technologies takes wing as Legion launch remains on schedule