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The Greatest Growth Stock on Earth – and Beyond?

The deals and partnerships continue to come in thick and fast for Maxar Technologies (TSX:MAXR)(NYSE:MAXR). Last week saw the space tech giant shake hands with the Australian Space Agency on a collaboration that will see Maxar help the country develop its space industry.

As one of the world’s leading space tech plays, Maxar could also be looking at a 70% upside correction by the end of 2020, making it a strategic stock for capital gains investors. Active in a glittering array of space-based industries, Maxar also has deals in place with such luminaries as NASA, Boeing, and the Canada Space Agency.

Maxar’s partnership with NASA also extends into the exploration field. The space tech company has built robotic arms for NASA’s Mars missions such as the Spirit, Opportunity and Curiosity rovers, as well as the Phoenix and InSight landers. Most recently, Maxar made delivery of the robotic Sample Handling Assembly for the 2020 rover.

The ultimate growth stock?

Maxar’s stock has appreciated almost 30% in the last three months and is currently trading at more than 130% of its 52-week low. The stock’s history is largely event-driven, meaning that it gets a boost every time a positive development hits the press.

While this may not be the best driver of capital gains in a lesser company, Maxar’s thick-and-fast deal-making status means that the better connected it is, the more investors benefit.

Its growth opportunities are potentially limitless, with industries such as satellite servicing likely to become a highly lucrative driver of capital to take just one example.

The new tech is likely to grow into an entire sector of space exploration and commercialization of its own, with government and private customers likely to benefit. Senior Vice President of Strategic Growth Mike Edwards has stated, “Satellite servicing is one of many disruptive technologies that Maxar is pioneering to provide our customers with expanded options for more resilient and cost-effective operations in space.”

A truly global player for space-based upside

Maxar CEO Dan Jablonsky, said of its collaboration with the Australian Space Agency, “Maxar is honoured to support the Australian Space Agency as it seeks to expand the nation’s role in the international civil space community, and we look forward to contributing technology and expertise from our 65-year heritage in space to projects and programs that enable them to achieve this goal.”

The collaboration will see both parties working on Australia’s development of its space industry goals, which will involve projects such as space robotics, satellite and AI development, satellite servicing, education and training.

The collaboration will be part of a planned $12 billion Australian space industry supporting 20,000 jobs within the next decade and will link in with a broader global space industry.

The bottom line

As the foremost space industry stock on the TSX, Maxar is a strong buy for a tech-light portfolio. While it’s not known for its dividend yield, growth investors have a solid play for upside in the NASA-linked Maxar.

Growth investors could be looking at one of the best stocks available on any exchange for capital appreciation with potentially limitless upside over the long term.

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Fool contributor Victoria Hetherington has no position in any of the stocks mentioned. The Motley Fool recommends MAXAR TECHNOLOGIES LTD. Maxar Technologies is a recommendation of Stock Advisor Canada.

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