Why Maxar Stock Popped 12% Today

Shares of space company Maxar Technologies (NYSE: MAXR) are going "to the moon" today, up 12.4% as of 12:45 p.m. EDT. As StreetInsider.com reported this morning, investment bank Goldman Sachs has just initiated coverage of Maxar Technologies stock with a "buy" rating and a $52 price target that suggests there could be as much as 29% upside in the stock. 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 [defense stock] (7X on both).