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Area inventory Maxar Applied sciences is thrashing the market this yr, however Financial institution of America sees draw back forward. BofA downgraded Maxar to underperform from impartial. The agency additionally lower its value goal on the inventory from $36 to $25, implying about 14% draw back from Maxar’s closing value Monday. The agency mentioned it expects Maxar to see decrease income and margins shifting ahead. “A mixture of upper value of products offered (COGS) and elevated depreciation … weigh on our forecasts,” BofA analyst Ronald Epstein mentioned in a be aware Tuesday. There’s “draw back danger to right now’s value ranges,” Epstein mentioned. Shares of the satellite tv for pc imagery firm are down 1.6% in 2022 versus the S & P 500’s 15.9% decline. —CNBC’s Michael Bloom contributed reporting.
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