Brokerages Set MDA Space Ltd. (NYSE:MDA) Target Price at $50.67

Shares of MDA Space Ltd. (NYSE:MDA) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $50.6667.

A number of equities analysts have recently issued reports on MDA shares. Weiss Ratings downgraded MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, July 20th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, ATB Cormark Capital Markets cut shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th.

MDA Space Stock Up 0.3%

NYSE MDA opened at $30.34 on Monday. MDA Space has a one year low of $23.23 and a one year high of $49.37. The firm’s 50-day simple moving average is $37.17. The stock has a market cap of $4.92 billion and a P/E ratio of 108.36.

MDA Space (NYSE:MDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05.

About MDA Space

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.