RBC-DS raises TP... After a management meeting and tour of its Palo Alto satellite facility, RBC Dominion Securities’ Ken Herbert raised his target for shares of Maxar Technologies Inc. to US$48 from US$42 with an “outperform” rating. The average is US$44.
“The facility is busy, with 15 satellites in production (including two WV Legion satellites),” he said. “We met with Chris Johnson, SVP of Space Program Delivery. The company is confident that the geosat market will re-set at 12–15 satellite orders/year, and it expects to maintain its 30-per-cent share. Management is focused on the [Electro-Optical Commercial Layer] contract announcement (expected any day) and the initial WV Legion launch.”