MDA Space (TSE:MDA) Price Target Raised to C$55.00 at Desjardins

MDA Space (TSE:MDA) had its price objective raised by Desjardins from C$53.00 to C$55.00 in a research note published on Friday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley increased their price objective on shares of MDA Space from C$51.00 to C$58.00 in a report on Friday. ATB Cormark Capital Markets cut their price objective on shares of MDA Space from C$54.00 to C$53.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus increased their target price on MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. BMO Capital Markets increased their target price on MDA Space from C$45.00 to C$50.00 in a research report on Thursday, March 5th. Finally, Jefferies Financial Group upgraded MDA Space to a “strong-buy” rating in a research report on Monday, April 6th. Three research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$51.33.

MDA Space Trading Up 1.3%

Shares of MDA opened at C$47.26 on Friday. The company has a debt-to-equity ratio of 20.62, a current ratio of 0.80 and a quick ratio of 1.00. MDA Space has a 1 year low of C$20.85 and a 1 year high of C$50.98. The company has a 50 day simple moving average of C$42.03 and a two-hundred day simple moving average of C$34.15. The firm has a market cap of C$6.55 billion, a P/E ratio of 56.26 and a beta of -0.92.

MDA Space (TSE:MDA) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.38 earnings per share (EPS) for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The business had revenue of C$464.10 million during the quarter. On average, equities analysts expect that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

Key MDA Space News

Here are the key news stories impacting MDA Space this week:

• Positive Sentiment: Morgan Stanley raised its price target on MDA Space to C$58.00 from C$51.00, implying meaningful upside and reinforcing bullish sentiment after the company’s results. BayStreet.CA
• Positive Sentiment: Scotia lifted its target to C$53.00 from C$49.00 and maintained a “sector outperform” view, signaling confidence in the stock’s outlook. BayStreet.CA
• Positive Sentiment: Desjardins increased its price target to C$55.00 from C$53.00 and kept a “buy” rating, adding to the cluster of upbeat analyst calls. BayStreet.CA
• Positive Sentiment: ATB Cormark trimmed its target slightly to C$53.00 from C$54.00, but still maintained an “outperform” rating, which remains supportive of the stock. BayStreet.CA
• Positive Sentiment: The company reported Q1 revenue of C$464.1 million, up more than 30% year over year, and posted C$0.38 in EPS, showing strong top-line growth and solid profitability. Earnings transcript
• Positive Sentiment: Management also said there is strong early demand for its Earth observation data, suggesting another growth avenue beyond its core aerospace programs. MSN
• Positive Sentiment: MDA said it is moving “full steam ahead” on Canadarm3 even after the space station cancellation, reducing fears that the program setback will derail a key long-term contract opportunity. BetaKit

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.