Space stock Maxar has 40% upside, JPMorgan says in upgrade

Lufthansa airplanes parked on the runway in Frankfurt, Germany.

JPMorgan upgraded its rating of Maxar Technologies on Thursday to overweight from neutral, saying it expects the space stock to climb 40% in the year ahead.

"The stock has been caught up in market turbulence around an equity offering last week and is now more attractive following the pullback," JPMorgan analyst Seth Seifman wrote in a note to clients.

Maxar shares rose 3.4% on Thursday from its previous close of $33.64 a share. The stock is down nearly 10% in 2021 but has nearly tripled in the past 12 months.

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