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

MDA Space (TSE:MDA) had its price target raised by analysts at Scotiabank from C$28.50 to C$34.00 in a report released on Monday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 23.77% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Ci Capital raised their price objective on shares of MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. Canaccord Genuity Group lifted their target price on MDA Space from C$30.00 to C$34.00 in a research note on Friday, December 13th. Cormark lifted their target price on MDA Space from C$31.00 to C$38.00 in a report on Wednesday, December 11th. Citigroup lifted their target price on MDA Space from C$26.00 to C$30.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their target price on MDA Space from C$28.00 to C$30.00 in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$31.43.

MDA Space Price Performance

Shares of MDA stock traded up C$0.64 on Monday, reaching C$27.47. The company had a trading volume of 579,708 shares, compared to its average volume of 531,263. The stock has a market capitalization of C$3.35 billion, a PE ratio of 48.82 and a beta of 0.02. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. MDA Space has a one year low of C$11.44 and a one year high of C$30.00. The business’s 50-day moving average is C$25.68 and its 200 day moving average is C$23.22.

Insider Buying and Selling

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

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.