Royal Bank Of Canada Forecasts Strong Price Appreciation for MDA Space (TSE:MDA) Stock

MDA Space (TSE:MDA) had its price target lifted by Royal Bank Of Canada from C$35.00 to C$42.00 in a report published on Thursday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on MDA. Scotiabank downgraded MDA Space from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$33.00 to C$39.00 in a report on Thursday. Canaccord Genuity Group cut their target price on shares of MDA Space from C$37.00 to C$36.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Finally, Desjardins lifted their price target on shares of MDA Space from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$34.78.

MDA Space Stock Up 1.4%

MDA Space stock opened at C$36.75 on Thursday. The firm has a market capitalization of C$4.48 billion, a P/E ratio of 65.32 and a beta of 0.02. The company has a current ratio of 0.83, a quick ratio of 1.00 and a debt-to-equity ratio of 34.94. MDA Space has a twelve month low of C$11.78 and a twelve month high of C$37.06. The stock’s fifty day simple moving average is C$28.68 and its 200-day simple moving average is C$27.08.

Insider Transactions at MDA Space

In related news, Senior Officer Holly Lynn Johnson sold 31,200 shares of the business’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$30.70, for a total value of C$957,840.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of C$32.02, for a total value of C$256,160.00. Insiders sold a total of 306,000 shares of company stock valued at $9,024,768 over the last three months. 12.60% of the stock is owned by corporate insiders.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.