A telecommunications satellite built by Maxar-owned Space Systems Loral.
J.P. Morgan began coverage of Maxar Technologies on Tuesday with an overweight rating, telling investors that the diminished space conglomerate is in the early stages of a turnaround that would yield over 70% upside by the end of 2020.
“We see Maxar as a high-risk/high-reward opportunity in the Space industry. We believe the next 24 months are critical as the company progresses on its turnaround plan and addresses its high leverage and debt levels, which should create value for equity holders,” J.P. Morgan analyst Benjamin Arnstein said in a note.
Maxar shares climbed 19.2% in trading to close at $8.38, its best…