ATB Cormark Capital Markets Lowers MDA Space (TSE:MDA) Price Target to C$53.00

Key Points

• ATB Cormark Capital Markets cut its price target on MDA Space from C$54.00 to C$53.00 but kept an "outperform" rating, implying about an 11.9% upside from the prior close.
• Analyst sentiment remains positive with a consensus "Buy" rating and a consensus target of C$51.33, while several brokers (including Morgan Stanley, Canaccord, Stifel and Desjardins) have recently raised their targets—Morgan Stanley's target reached C$58.00.
• MDA shares traded up 1.5% to C$47.36 on Friday; the company has a market cap of C$6.52 billion, a P/E of 56.38, and reported quarterly EPS of C$0.38 on C$464.1 million in revenue.

MDA Space (TSE:MDA - Get Free Report) had its price objective dropped by equities research analysts at ATB Cormark Capital Markets from C$54.00 to C$53.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 11.91% from the company's previous close.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of MDA Space from C$51.00 to C$58.00 in a research report on Friday. Canaccord Genuity Group set a C$56.00 target price on MDA Space and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. BMO Capital Markets lifted their price target on MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Stifel Nicolaus upped their price target on MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Finally, Desjardins increased their price objective on MDA Space from C$51.00 to C$53.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, MDA Space currently has a consensus rating of "Buy" and a consensus target price of C$51.33.

MDA Space Trading Up 1.5%

TSE MDA traded up C$0.69 on Friday, hitting C$47.36. 692,918 shares of the company were exchanged, compared to its average volume of 1,118,538. The company has a debt-to-equity ratio of 30.34, a current ratio of 0.47 and a quick ratio of 1.00. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$50.98. The firm has a market capitalization of C$6.52 billion, a P/E ratio of 56.38 and a beta of -0.92. The company's 50 day moving average price is C$42.03 and its 200-day moving average price is C$34.15.

MDA Space (TSE:MDA - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported C$0.38 EPS for the quarter. The company had revenue of C$464.10 million during the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. Analysts predict that MDA Space will post 0.9605084 earnings per share for the current fiscal year.

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.

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