Home » Goldman Sachs sees 45% rally in space stock Maxar

Goldman Sachs sees 45% rally in space stock Maxar

by MD Samsuzzaman Siyam

Technicians test solar arrays for a spacecraft.

Maxar

Goldman Sachs began on Wednesday coverage of space stock Maxar Technologies with a buy rating, seeing a 45% climb for shares in the year ahead.

“We think MAXR has a gem business in earth intelligence and a turnaround opportunity in Space Infrastructure,” Goldman Sachs analyst Noah Poponak wrote in a note to investors, adding that the firm sees Maxar as a “great long-term opportunity in the space market.”

Shares of the satellite imagery company rose 2% in premarket trading from its previous close of $35.97. The stock is down nearly 7% this year, but ha smore than doubled over the past 12 months with the company in the midst of a multiyear turnaround.

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