MDA Space (TSE:MDA) Price Target Raised to C$70.00 at Stifel Nicolaus

MDA Space (TSE:MDA) had its price target boosted by analysts at Stifel Nicolaus from C$57.00 to C$70.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 21.70% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. Scotia increased their price objective on shares of MDA Space from C$53.00 to C$70.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce set a C$57.00 price objective on shares of MDA Space and gave the stock an “outperformer” rating in a research note on Thursday, May 14th. Scotiabank raised shares of MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Canaccord Genuity Group set a C$56.00 price objective on shares of MDA Space and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$56.30.

MDA Space Stock Performance

MDA stock traded up C$1.68 during midday trading on Thursday, reaching C$57.52. 801,431 shares of the company’s stock traded hands, compared to its average volume of 1,169,529. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$67.90. The stock has a market cap of C$7.98 billion, a P/E ratio of 71.90 and a beta of -0.92. The company has a current ratio of 0.80, a quick ratio of 1.00 and a debt-to-equity ratio of 20.62. The stock’s 50-day moving average is C$47.35 and its 200 day moving average is C$37.83.

MDA Space (TSE:MDA) last announced its earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The business had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. As a group, analysts anticipate that MDA Space will post 0.9605084 EPS for the current year.

MDA Space Company Profile

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.