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

MDA Space (TSE:MDA) had its target price increased by Cormark from C$30.00 to C$31.00 in a research report report published on Monday morning,BayStreet.CA reports. Cormark also issued estimates for MDA Space’s FY2024 earnings at $0.93 EPS, FY2025 earnings at $0.95 EPS and FY2026 earnings at $1.24 EPS.

MDA has been the topic of several other research reports. Desjardins raised MDA Space to a “moderate buy” rating in a research report on Wednesday, October 30th. Ci Capital lifted their price objective on shares of MDA Space from C$15.00 to C$26.00 in a research report on Monday. BMO Capital Markets raised shares of MDA Space from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$15.00 to C$28.00 in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on shares of MDA Space from C$18.00 to C$20.00 in a report on Friday, September 20th. Finally, Canaccord Genuity Group raised their price objective on shares of MDA Space from C$21.00 to C$27.00 in a research report on Monday, November 4th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$27.83.

MDA Space Stock Performance

MDA opened at C$26.46 on Monday. The company has a market capitalization of C$3.18 billion, a price-to-earnings ratio of 69.84 and a beta of 0.02. MDA Space has a 1 year low of C$10.65 and a 1 year high of C$27.47. The business’s 50-day moving average price is C$20.47 and its two-hundred day moving average price is C$15.84. The company has a debt-to-equity ratio of 45.79, a current ratio of 1.00 and a quick ratio of 1.00.

Insider Buying and Selling at MDA Space

In related news, Director Michael Philip Greenley sold 175,000 shares of the 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. Also, Director John Carter Risley sold 22,500 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$15.42, for a total transaction of C$347,017.50. Over the last three months, insiders have sold 198,920 shares of company stock valued at $3,281,370. 12.60% of the stock is currently owned by company 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.