Why Maxar Stock Jumped Another 10% Today [The Motley Fool]
Maxar Technologies Inc. (MAXR)
Last maxar technologies inc. earnings: 3/2 04:08 pm
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Source: The Motley Fool
Why Maxar Stock Jumped Another 10% Today Maxar's rocketing closer to J.P. Morgan's target price -- but it's not there yet. Another day, another 10%-plus gain for space stock Maxar Technologies ( NYSE:MAXR ) . Last week, if you recall , investment banker J.P. Morgan initiated coverage of the space-tech stock with an overweight rating and a $12 price target. The stock has been on an upswing ever since, and Monday was no exception, with Maxar shares closing 10.1% higher than they ended last week. Yet you have to wonder how much longer this can go on -- and whether all the price gains are justified. After all, when J.P. recommended the shares last week, Maxar stock was selling for only a bit more than $7. It's already up 44% from that price, so a lot of the 71% profit the analyst predicted has already been earned. At today's closing price of $10.11, there's less than a 20% margin of profit left between Maxar's price right now, and the price that J.P. predicted Maxar would hit ... 12 mont
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