Scotiabank Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

MDA Space (TSE:MDA) had its price target boosted by equities research analysts at Scotiabank from C$29.00 to C$33.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 12.59% from the company’s current price.

Several other research analysts also recently issued reports on MDA. Desjardins raised MDA Space to a “moderate buy” rating in a report on Wednesday, October 30th. Ci Capital upped their price objective on MDA Space from C$15.00 to C$26.00 in a report on Monday, November 18th. BMO Capital Markets raised MDA Space from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$15.00 to C$28.00 in a report on Monday, November 4th. Cormark increased their price target on MDA Space from C$31.00 to C$38.00 in a research note on Wednesday. Finally, Canaccord Genuity Group upped 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$30.33.

MDA Space Price Performance

TSE MDA traded up C$0.80 during trading hours on Wednesday, reaching C$29.31. 387,382 shares of the company’s stock were exchanged, compared to its average volume of 277,015. The stock has a market cap of C$3.52 billion, a PE ratio of 77.13 and a beta of 0.02. MDA Space has a one year low of C$10.65 and a one year high of C$29.98. The firm has a fifty day moving average of C$23.36 and a 200-day moving average of C$17.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 45.79.

Insiders Place Their Bets

In related news, Director Yung Cheng Wu acquired 3,800 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$28.49 per share, for a total transaction of C$108,262.00. Also, Director Michael Philip Greenley sold 175,000 shares of the firm’s stock in a transaction dated Sunday, September 22nd. The shares were sold at an average price of C$16.64, for a total value of C$2,911,632.50. Corporate insiders own 12.60% of the company’s stock.

About MDA Space

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.