Canaccord Genuity Group Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target raised by equities research analysts at Canaccord Genuity Group from C$30.00 to C$34.00 in a note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 19.42% from the company’s current price.

A number of other research analysts have also weighed in on the company. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$15.00 to C$28.00 in a report on Monday, November 4th. Cormark increased their target price on MDA Space from C$31.00 to C$38.00 in a research report on Wednesday. Ci Capital increased their target price on MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. Scotiabank upped their price target on MDA Space from C$29.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Desjardins upgraded MDA Space to a “moderate buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$31.50.

MDA Space Stock Performance

Shares of TSE:MDA traded up C$0.08 during trading on Friday, reaching C$28.47. The company had a trading volume of 191,807 shares, compared to its average volume of 278,585. The firm has a market capitalization of C$3.42 billion, a price-to-earnings ratio of 75.00 and a beta of 0.02. 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 stock’s fifty day moving average price is C$24.04 and its 200 day moving average price is C$17.38. MDA Space has a fifty-two week low of C$10.65 and a fifty-two week high of C$29.98.

Insider Buying and Selling

In related news, Director Michael Philip Greenley sold 175,000 shares of the firm’s stock in a transaction that occurred 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. Also, Director Yung Cheng Wu bought 3,800 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Company insiders own 12.60% of the company’s stock.

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.