Royal Bank Of Canada Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price target increased by investment analysts at Royal Bank Of Canada from C$42.00 to C$53.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 14.77% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group upped 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 report on Friday, July 11th. Scotiabank raised MDA Space from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from C$39.00 to C$55.00 in a report on Tuesday. Desjardins increased their price objective on MDA Space from C$40.00 to C$55.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets boosted their target price on MDA Space from C$33.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$43.22.

MDA Space Stock Up 3.7%

Shares of TSE MDA opened at C$46.18 on Tuesday. MDA Space has a 12-month low of C$11.94 and a 12-month high of C$47.84. The firm’s 50-day simple moving average is C$35.51 and its 200 day simple moving average is C$29.03. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. The company has a market cap of C$5.63 billion, a price-to-earnings ratio of 82.08 and a beta of 0.02.

Insider Transactions at MDA Space

In other news, Senior Officer David Snarch sold 18,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of C$28.20, for a total value of C$507,600.00. Also, Director Michael Philip James Greenley sold 200,000 shares of MDA Space stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$29.04, for a total value of C$5,807,400.00. In the last quarter, insiders sold 306,000 shares of company stock valued at $9,024,768. 12.60% of the stock is currently owned by company insiders.

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.