MDA Space (NYSE:MDA) Downgraded by ATB Cormark Capital Markets to “Hold”

MDA Space (NYSE:MDA) was downgraded by stock analysts at ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other brokerages have also weighed in on MDA. Royal Bank Of Canada lifted their price objective on shares of MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce initiated coverage on shares of MDA Space in a research note on Wednesday, May 13th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Zacks Research downgraded shares of MDA Space from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group upgraded shares of MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.33.

MDA Space Trading Down 8.5%

MDA Space stock opened at $44.56 on Friday. MDA Space has a 12-month low of $23.23 and a 12-month high of $49.37.

MDA Space (NYSE:MDA) last released its earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.