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Space stocks Maxar and Virgin Galactic are positioned to surge, Truist says with buy ratings

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Technicians test solar arrays for a spacecraft.
Maxar

Truist began coverage of both Maxar Technologies and Virgin Galactic with buy ratings on Tuesday, calling the former "well positioned" and the latter "uniquely positioned" in the growing space industry.

Amid a broader market selloff, shares of Maxar and Virgin Galactic slipped Wednesday morning from their previous closing prices of $43.98 and $32.51, respectively.

Maxar has gained more than 12% to begin the year and is up nearly 360% in the last 12 months.

Meanwhile, Virgin Galactic is up about 35% to begin the year and has more than doubled in the last year.