Cormark Raises MDA Space (TSE:MDA) Price Target to C$38.00

MDA Space (TSE:MDA) had its price objective upped by analysts at Cormark from C$31.00 to C$38.00 in a report released on Wednesday,BayStreet.CA reports. Cormark’s price objective points to a potential upside of 29.65% from the company’s previous close.

MDA has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. Desjardins upgraded MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets upgraded MDA Space from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Scotiabank increased their target price on MDA Space from C$22.00 to C$25.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on MDA Space from C$28.00 to C$30.00 in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, MDA Space currently has an average rating of “Buy” and a consensus price target of C$30.33.

MDA Space Trading Up 2.8 %

TSE MDA traded up C$0.80 during trading hours on Wednesday, hitting C$29.31. 387,382 shares of the company’s stock were exchanged, compared to its average volume of 277,015. The business’s 50 day moving average is C$23.36 and its 200-day moving average is C$17.08. MDA Space has a 12-month low of C$10.65 and a 12-month high of C$29.98. The firm has a market capitalization of C$3.52 billion, a P/E ratio of 77.29 and a beta of 0.02. The company has a debt-to-equity ratio of 45.79, a quick ratio of 1.00 and a current ratio of 1.00.

Insider Buying and Selling at MDA Space

In other MDA Space news, Director Yung Cheng Wu acquired 3,800 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the firm’s stock in a transaction that occurred on Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. 12.60% of the stock is owned by insiders.

About MDA Space

MDA Ltd. designs, manufactures, and services space robotics, satellite systems and components, and intelligence systems in Canada, the United States, Europe, Asia, the Middle East, and internationally. The company offers geointelligence solutions that use satellite-generated imagery and analytic services to deliver critical and value-added insights in the areas of national security, climate change monitoring, and maritime surveillance; owns and operates commercial data distribution for its satellite RADARSAT-2; and distributes high resolution optical imagery, satellite-based automatic identification system data, and radio-frequency data for other third-party missions.