In an upbeat assessment by Goldman Sachs, the developer of space technologies Maxar Technologies Ltd. (NYSE: MAXR), has been recognized as a leading space company of the future. This was why the increase of 11.18 % in the MAXR stock to $39.99 in the recent trading session.
Maxar Technologies Ltd. (MAXR) stock closed the previous trading session at $35.97. During this period, the range of the company’s shares was $36.78 to $41.84. A total of 3.35 million shares were traded, above the average daily trade of 1.49 million shares over the past 100 days. Over the last five days, MAXR shares gained 12.74%, while they have risen 32.90% over the past month. The dividend yield for the company is currently 0.10%. Additionally, its current price-to-book ratio is 2.08.
In its report on Maxar Technologies Ltd. (MAXR), Goldman Sachs recommends conservative targets for its financial performance in 2023 and said further improvements could push this performance beyond what is expected. A difficult period in the company’s history may be ending when the company has had a negative free cash flow for the past three years. According to analyst expectations, Maxar will reach a positive cash flow of $ 28 million by 2021 and turn a profit of $ 385 million by 2024. Thus, Goldman Sachs sees a long-term opportunity for MAXR to grow. Accordingly, Goldman Sachs outlined a buy recommendation for MAXR shares and set a price target of $52.
Maximum’s current most promising expansion strategy is the assembly of satellites. This industry is currently under-supplied on the global market. The company also participates in major American space exploration projects, such as creating the Gateway lunar station. Furthermore, Maxar is developing a constellation of new Earth remote sensing satellites called WorldView Legion, which should be deployed in 2021. This is a new generation of satellites that provide images with a resolution of 29 cm and up to 15 times a day. These capabilities allow you to update multiple geographic information systems quickly, such as those used to manage sea traffic and land resources and monitor the environment.