MAXR - Truist starts Maxar at Buy seeing 34% upside

Maxar Technologies (MAXR -0.1%) is seeing only moderate declines in a marketwide downturn, but hit positive ground this morning, in the wake of a positive initiation at Truist Securities. In a launch of the space sector, Truist started Maxar at Buy, calling it a global leader in Earth Observation. The firm touted production of GEO satellites and the company's status as an awardee in several transformational space programs, along with increasing low earth orbit and space spending top-line growth. Its base case calls for 2022 EBITDA of $284M. Truist has a target price using a multiple of that EBITDA of $59, implying 34% upside. Wall Street analysts are Neutral on the whole, while Seeking Alpha authors are Bullish. The stock has a Quant Rating of Neutral.

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Truist starts Maxar at Buy, seeing 34% upside