Weakness in the share price of Orbital Sciences [Nasdaq: ORB] is unwarranted and stems from “general confusion” around the company’s plan to increase its outstanding shares from 80 million to 200 million, according to William Kidd, Lehman Brothers’ satellite analyst.

In a research note to his clients, Kidd said that the proxy request that Orbital filed with the Securities and Exchange Commission (SEC) is in no way an indication that the company has plans to use the additional authorized shares in a particular manner, Kidd. Instead, Orbital is giving itself financial flexibility, he added.