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Review of Magellan Aerospace Corporation

DEC 10, 2024 - MAL is one of the few aerospace names with earnings and share prices that have not passed the 2019 levels yet. However, we think the recent improvement in revenue growth and earnings is quite positive for the company’s prospects going forward. MAL is still trading at a reasonable valuation compared to its historical averages and growth prospects; we think the company can continue to improve its organic growth profile and operational efficiency, as well as start to return capital to shareholders (either buyback or dividends). The share price could see a multiple re-rate from here

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Q: If the Globe is to be believed Apple owns 20% of Globalstar courtesy of a USD 1.5 Billion financing. Globalstar in turn has added $750 million (CAD?) to MDA’s existing contract to build satellites for Globalstar. The satellites will be manufactured in Montreal presumably tariff free provided I suppose they don’t use a US launch site.Do you know if there are Canadian launch sites/companies? Is Magellan Aerospace a candidate? Any thoughts you have would be appreciated.
Jim
Read Answer Asked by James on February 12, 2025
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