MDA Space Ltd. (NYSE:MDA) Receives $50.67 Average Price Target from Analysts

MDA Space Ltd. (NYSE:MDA) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $50.6667.

Several research firms have issued reports on MDA. JPMorgan Chase & Co. raised their target price on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Royal Bank Of Canada raised their price objective on MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Finally, Zacks Research upgraded shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th.

MDA Space Stock Down 1.8%

Shares of MDA stock opened at $38.80 on Thursday. The stock has a market capitalization of $5.39 billion and a P/E ratio of 138.57. The stock’s 50-day moving average price is $38.80. MDA Space has a 12 month low of $23.23 and a 12 month high of $49.37.

MDA Space (NYSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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.