TD Securities Forecasts Strong Price Appreciation for Magellan Aerospace (TSE:MAL) Stock

Magellan Aerospace (TSE:MAL) had its price target upped by TD Securities from C$18.00 to C$19.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 74.31% from the stock’s previous close.

Magellan Aerospace Trading Up 0.3 %

Shares of Magellan Aerospace stock opened at C$10.90 on Monday. The company’s fifty day simple moving average is C$9.96 and its 200-day simple moving average is C$10.04. The company has a market cap of C$603.04 million, a price-to-earnings ratio of 31.19, a PEG ratio of -21.36 and a beta of 1.11. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81. Magellan Aerospace has a 1 year low of C$7.77 and a 1 year high of C$11.05.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.