MDA Space (TSE:MDA) Stock Price Expected to Rise, Desjardins Analyst Says

MDA Space (TSE:MDA) had its price target increased by investment analysts at Desjardins from C$40.00 to C$55.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 19.10% from the stock’s previous close.

A number of other brokerages also recently issued reports on MDA. Scotiabank downgraded shares of MDA Space from a “strong-buy” rating to a “hold” rating and lifted their price target for the stock from C$33.00 to C$39.00 in a research note on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on shares of MDA Space from C$35.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, July 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MDA Space currently has a consensus rating of “Buy” and an average price target of C$43.22.

MDA Space Stock Performance

Shares of MDA Space stock opened at C$46.18 on Tuesday. The business has a 50-day simple moving average of C$35.51 and a 200-day simple moving average of C$29.03. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. MDA Space has a one year low of C$11.94 and a one year high of C$47.84. The company has a market cap of C$5.63 billion, a PE ratio of 82.08 and a beta of 0.02.

Insider Activity at MDA Space

In related news, Senior Officer Luigi Pozzebon sold 8,000 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total value of C$256,160.00. Also, Senior Officer Holly Lynn Johnson sold 31,200 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$30.70, for a total value of C$957,840.00. Insiders have sold 306,000 shares of company stock valued at $9,024,768 in the last quarter. Company insiders own 12.60% of the company’s stock.

MDA Space Company Profile

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.