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

MDA Space (TSE:MDA) had its target price boosted by equities research analysts at Cormark from C$31.00 to C$38.00 in a research report issued on Wednesday,BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 29.65% from the stock’s current price.

Several other brokerages also recently issued reports on MDA. Ci Capital raised their price target on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Desjardins raised MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on MDA Space from C$21.00 to C$27.00 in a report on Monday, November 4th. Scotiabank raised their price target on MDA Space from C$22.00 to C$25.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$15.00 to C$28.00 in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$30.33.

MDA Space Stock Performance

Shares of TSE MDA traded up C$0.80 during mid-day trading on Wednesday, hitting C$29.31. The company had a trading volume of 387,382 shares, compared to its average volume of 277,015. The stock has a market cap of C$3.52 billion, a price-to-earnings ratio of 77.29 and a beta of 0.02. MDA Space has a 12 month low of C$10.65 and a 12 month high of C$29.98. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50 day simple moving average is C$23.36 and its two-hundred day simple moving average is C$17.08.

Insider Buying and Selling at MDA Space

In other news, Director Yung Cheng Wu acquired 3,800 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of C$28.49 per share, with a total value of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the business’s stock in a transaction on Sunday, September 22nd. The stock was 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 company 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.