Benzinga | Jul 16, 2021 07:10AM EDT

Morgan Stanley Initiates Coverage On Maxar Technologies, Sees 51% Upside

* Morgan Stanley analyst Matthew Sharpe initiated coverage of Maxar Technologies Inc (NYSE:MAXR) with an Overweight rating and $50 price target, implying a 50.9% upside.

* Sharpe estimates accelerated revenue growth and improved margins as the planned WorldView Legion constellation of satellites appear online later this year.

* He expects the satellites to contribute about 10% revenue growth by 2023.

* Price action: MAXR shares closed lower by 2.79% at $33.12 on Thursday.