Key Highlights

  • Telesat shares are trading up 7.11% today, near $57.93, after closing at $54.08 previously
  • The company's LEO subsidiary secured a record contract worth up to C$2.7 billion with options
  • The 15-year Arctic connectivity deal adds 69 fully funded Lightspeed satellites
  • Stifel and ATB Cormark both maintain Buy ratings on the stock
  • Shares are trading near 52-week highs, up roughly 85% year-to-date

What Happened

Telesat (NASDAQ:TSAT) shares are trading up 7.11% today, near $57.93. Telesat is one of the world's leading satellite operators, providing mission-critical communications solutions to broadcast, enterprise, and government customers across Canada, the U.S., Latin America, Europe, the Middle East, Africa, and Asia-Pacific.

The gains follow news that the company's LEO subsidiary secured a record C$2.3 billion contract, worth up to C$2.7 billion with options, a 15-year Arctic connectivity agreement with Canada's Defence Investment Agency. The deal adds 69 fully funded Lightspeed satellites, bringing the constellation total to 225, and represents the largest deal in company history.

Analysts Turn More Bullish

The deal prompted a special investor call on updated financial outlook and follows a wave of bullish analyst commentary, including Stifel's Buy rating with a C$100 price target and ATB Cormark's Buy rating with a C$118 target. Shares are trading near 52-week highs, up over 6% today and roughly 85% year-to-date.

Conclusion

Telesat's 7.11% gain today reflects strong investor reaction to the largest contract in company history, reinforcing confidence in its expanding low-Earth-orbit footprint and government-backed revenue visibility.

This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult a financial professional before making investment decisions.