Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency 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 Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeInvestorThis TSX stock is already up 125% this year with one analyst calling for it to be a space spending winnerSpace spending is skyrocketing and this company has a product that increasingly complex satellite infrastructure needsLast updated 4 days ago You can save this article by registering for free here. Or sign-in if you have an account.Satellite proliferation is at the core of the current space spending expansion, with more than 43,000 satellites expected to be launched by 2043. Photo by Anton Petrus/Getty ImagesTSX top performer 5N Plus Inc. (VPN/TSX) is already up just over 125 per cent year to date and National Bank of Canada Capital Markets is calling for the shares’ upward momentum to continue based on the rapidly expanding spending on space infrastructure.Subscribe 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 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.Create 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.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 Accountor“We see several near-term catalysts that should support continued upside in both the shares and our estimates,” National Bank analyst Baltej Sidhu, said in a note on June 14, while also hiking his price target for the shares to $50 from $41. Shares closed Monday at $40.09.The global space infrastructure sector has already taken off and is expected to reach new heights, Sidhu said, adding that estimates place 2025 spending at about US$626.4 billion with the possibility that it could grow to more than US$1 trillion by 2034.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againSatellite proliferation is at the core of the current space spending expansion, with more than 43,000 satellites expected to be launched by 2043, Sidhu said. The satellite infrastructure for growing commercial and defence needs is becoming more complex and will require high-efficiency power, and 5N is “leveraged to the performance intensity of future space deployments,” he said. “As mission requirements become more demanding, demand should increasingly shift toward higher-performance subsystems where reliability, radiation tolerance and lifecycle performance matter more than upfront cost,” Baltej said.That’s where 5N can benefit through its space solar cell producer Azur Space Solar Power GmBH, which manufactures high-efficiency germanium-based space solar cells for satellites that operate at higher orbits and call for a greater power supply, greater resistance to radiation and longer life span.Baltej said Azur, the company’s “largest growth vector,” is currently sold out through fiscal years 2026 and 2027 with “significant portions” of 2028 and 2029 supply already spoken for.The National Bank analyst is forecasting that 5N will upgrade its fiscal year 2026 guidance.5N also has a built-in advantage in that its Utah-based germanium company is one of the suppliers of the critical mineral used in the manufacture of Azur’s solar cells, the analyst said.There is also a SpaceX factor to consider, Baltej said, adding that the Elon Musk company reportedly filed plans in early 2026 tied to the deployment of up to one million satellites to support space-based data centre infrastructure operating between 500 to 5,000 kilometres above Earth.5N has a 12-month price target of $48.90 based on the calls of five analysts, according to Bloomberg. Join the Conversation This 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.