, one of the few publicly traded space companies, reported second-quarter earnings that largely impressed analysts, as the company delivered better than expected results on both the top and bottom lines.
"We think that Maxar's Q2 should clear a high bar following strong stock performance the past week," J.P. Morgan Chase analysts told clients. "Bookings were strong, as expected, but Q2 growth was solidly above expectations ... the likelihood of positive [free cash flow] in 2021 is growing." Shares of Maxar jumped more than 14% in trading Thursday from their previous close of $20.73. The stock is up over 50% so far in 2020, pushing its market value to about $1.4 billion.
"We believe MAXR's elevated leverage will constrain the stock's valuation multiples until the launch of [its Legion satellites] draws nearer, and we're apprehensive of timing risk," BMO wrote in a note. "That said, the outlook for the business has clearly improved, given a better backlog and return to profitability in the Space Infrastructure segment."
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: latimes - 🏆 11. / 82 Read more »
Source: NYMag - 🏆 111. / 63 Read more »
Source: Reuters - 🏆 2. / 97 Read more »