Starlink controversy could give this TSX-listed company an edge, analyst says

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInvestorStarlink controversy could give this TSX-listed company an edge, analyst saysThe Week in Stocks: Which sector is a bright spot as tech tanks, what companies may benefit from B.C.'s Conservative win and moreLast updated 10 minutes ago Reservists from 31 Brigade that are part of the Land Task Force exercise military drill at the staging area of the Operation NANOOK-NUNAKPUT, Canadian Armed Forces’ annual Arctic operation at Resolute Bay, Nunavut on Wednesday, Sept. 9, 2026. Communications company Telesat has a contract with the federal government to provide satellite services in the Arctic for the Canadian military. Photo by PHOTO BY HYUNGCHEOL PARK /Postmedia/embedded with CAFWhich sector is a bright spot as tech tanks, what companies may benefit from B.C.’s Conservative win and more from The Week in Stocks.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountStock of the week: Telesat Corp.Telesat Corp. (TSAT:TSX) hit an all-time high this August after the Canadian government awarded the satellite operator a $2.7 billion contract to support a military build-out in Canada’s Arctic. Since then, shares retreated about 35 per cent — though they are still up 40 per cent year to date — as investors began to worry about the company’s ability to handle $2 billion in debt coming due at the end of this year related to Telesat’s legacy geostationary satellite business. Following the release of third-quarter earnings on Oct. 29, analysts appear undeterred and have reiterated their views that the shares are a buy, despite the company posting a 20 per cent decrease in revenue in the quarter and a larger loss compared with the same time last year. CIBC Capital Markets analyst Erin Kyle maintained her outperform rating and $105 12-month price target with $510 million of the federal contract for a low-Earth orbit constellation of satellites already in place. Shares closed Friday at $55.84. “Management also pointed to building momentum in sovereign discussions, with meaningful contracts expected mostly over 2027,” Kyle said. With Elon Musk’s Starlink mired in controversy over Ukraine, Stifel analyst Greg MacDonald thinks Telesat offers a solution. “Our thesis on TSAT is that Lightspeed (Canada’s military program) gives NATO+ countries a trusted, sovereign network for military and enterprise use, and that its technical edge, combined with geopolitics, would drive demand,” MacDonald said in a note on Oct. 29. He has a price target on the shares of $100 and a buy rating. However, Telesat’s earnings report included a delay in the global launch of the low-Earth system to the second quarter of 2028 from the first quarter. And management provided no clarity on the debt situation, MacDonald said. Telesat has a 12-month price target of $87.98 based on the calls of seven analysts, according to Bloomberg.This advertisement has not loaded yet, but your article continues below.Keeping scoreA welcome email is on its way. If you don't see it, please check your junk folder.The next issue of will soon be in your inbox.We encountered an issue signing you up. Please try againB.C. Conservatives’ win may benefit these mining, oil and gas names, National Bank saysBritish Columbia’s Conservative party swept aside the incumbent NDP government in elections last weekend that analysts at National Bank of Canada Capital Markets believe will accelerate the development of several sectors in the province. “Several major projects were already advancing, but the incoming government is signalling greater urgency around permitting, LNG, mining and infrastructure,” analysts led by Greg Colman said in a report on Oct. 26. The Conservatives’ timelines are also “more aggressive” on major projects National Bank said. Analysts highlighted three names — Thesis Gold & Silver Inc. (TAU:TSXV), Trekor Metals Ltd., (TKO:TSX) and Centerra Gold Inc. (CG:TSX) — they think can benefit the most from the possible change in policy. Among the three, Thesis could benefit the most given where its northern B.C. Lawyers-Ranch project is in the approvals pipeline. National has a price target of $5.50 for Thesis. Shares closed Friday at $2.23. During campaigning, Conservatives pledged to repeal the Declaration on the Rights of Indigenous Peoples Act. Action on that pledge would boost the province’s energy sector, especially activity in the Montney region, one of the largest natural gas reserves, National Bank said. It expects developers including Canadian Natural Resources Ltd. (CNQ:TSX), Tourmaline Oil Corp. (TOU:TSX) and Ovintiv Inc. (OVV:TSX) to benefit from a friendlier regulatory backdrop. National has price targets on Canadian Natural and Tourmaline of $86 and $75, respectively. Shares closed Friday at $78.52 and $68.64. Ovintiv is currently restricted. Its shares closed Friday at $101.46. Oilfield services companies should also be material benefactors including Enerflex Ltd. (EFX:TSX), CES Energy Solutions Corp. (CEU:TSX), Precision Drilling Corp. (PD:TSX), Pason Systems Inc. (PSI:TSX), Trican Well Service Ltd. (TCW:TSX), analysts said.This advertisement has not loaded yet, but your article continues below.UBS sees a bright sector as info tech takes a wallopingThe S&P 500’s information technology sector fell hard into the red on Oct. 30, declining 4.2 per cent with all sub-indexes being dragged along, as earnings from tech giants put into question how much they can expect to gain from heavy investment in artificial intelligence. One bright spot on the day included pharmaceuticals, which were in the green by 1.2 per cent, according to data from Bloomberg, and a UBS Global Research analyst identified a couple of companies with potential. Eli Lilly & Co. (LLY:NYSE) was among the day’s top gainers among pharmaceuticals after the company reported a “strong” third quarter beat with revenue coming in at US$24.4 billion versus consensus of $22.6 billion and raised guidance on revenue and earnings per share. UBS analyst Michael Yee has a “bull thesis” on the shares based on the company’s obesity and diabetes drugs as rising volumes offset falling prices. UBS hiked its price target to US$1,625 from US$1,425. Shares closed Friday at US$1,417.54. Bristol-Myers Squibb Co. (BMY:NYSE) was also a winner, reporting earnings that beat estimates on revenue of US$13.1 billion versus US$12.7 billion. UBS’s Yee maintained his buy rating on the shares and price target of US$80, but said fears regarding loss of exclusivity for two drugs, one an immunotherapy treatment and the other, an anti-coagulant. Shares closed Friday at US$62.48This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Price target hikes, holds and startsBMO Capital Markets analyst John Gibson hiked his price target for Precision Drilling Inc. (PD:TSX) to $170 from $165 on rig momentum in the U.S. Shares closed Friday at $148.12.RBC Capital Markets analyst Irene Nattel hiked her price target for Aritizia Inc. (ATZ:TSX) to $207 from $195 after the company unveiled a new, “ambitious” five year strategic plan. Shares closed Friday at $155.50.TD Cowen analyst Vince Valentini hiked his price for BCE Inc. (BCE:TSX) to $44 from $40 after the telco said it was partially selling its stake in its wireless tower infrastructure company. Shares closed Friday at $28.49.Scotiabank Capital Markets analyst Phil Hardie hiked his price target for TMX Group Ltd. (X:TSX) to $73 from $71 as earnings results came in approximately 10 per cent ahead of expectations. Shares closed Friday at $60.07.Every week, the Financial Post breaks down the most interesting developments in the week’s world of investing, from top performers to surprising analyst calls and stocks to have on your radar.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.