Citigroup Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price target increased by stock analysts at Citigroup from C$26.00 to C$30.00 in a report released on Thursday,BayStreet.CA reports. Citigroup’s price objective indicates a potential upside of 22.45% from the company’s previous close.

MDA has been the subject of several other reports. Canaccord Genuity Group boosted their target price on MDA Space from C$30.00 to C$34.00 in a research report on Friday, December 13th. Ci Capital lifted their price target on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday, November 18th. Cormark lifted their target price on MDA Space from C$31.00 to C$38.00 in a report on Wednesday, December 11th. Desjardins upgraded MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$31.29.

MDA Space Trading Down 0.1 %

Shares of TSE:MDA traded down C$0.03 during midday trading on Thursday, hitting C$24.50. The company had a trading volume of 232,614 shares, compared to its average volume of 457,877. The firm has a fifty day simple moving average of C$28.08 and a 200 day simple moving average of C$21.13. The stock has a market cap of C$2.94 billion, a price-to-earnings ratio of 64.47 and a beta of 0.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79. MDA Space has a 12 month low of C$11.08 and a 12 month high of C$30.00.

Insider Activity

In other news, Director Michael Philip Greenley sold 290,600 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$28.55, for a total value of C$8,296,630.00. Also, Director John Carter Risley sold 61,000 shares of MDA Space stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$28.06, for a total value of C$1,711,660.00. Insiders have sold a total of 361,300 shares of company stock worth $10,285,710 over the last three months. Corporate insiders own 12.60% of the company’s stock.

MDA Space Company Profile

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.