By Christiana Sciaudone
Investing.com -- Maxar Technologies (NYSE:MAXR) jumped almost 11% after Goldman Sachs (NYSE:GS) initiated coverage with a buy rating on attractive pricing.
Analyst Noah Poponak set a price target of $52 on the space technology company, StreetInsider reported.
"Valuation very attractive on normalized: The company has issued 2023 targets that we believe may actually be a bit conservative, and following a pullback in the stock this year, it now trades at a lower 2023 EV/EBITDA and FCF multiple than any other company in our Defense coverage (7X on both)," Poponak wrote in a note. "We expect continued improvement in financials to drive a re-rating, as overhang from a challenging past cedes to a promising future."
Shares are still down some 23% from a January 12-month high. The company has four buy-equivalent ratings and one hold, according to Briefing.com.