BMO Capital Markets Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

Key Points

• BMO Capital Markets has raised its target price for MDA Space (TSE:MDA) stock from C$33.00 to C$53.00, indicating a potential upside of 17.39% based on the current stock price.
• The company has received positive ratings from several analysts, with an average rating of "Buy" and a consensus price target of C$43.22.
• Recent insider sales indicate significant trading activity, with insiders selling 306,000 shares valued at approximately $9 million over the last quarter.

MDA Space (TSE:MDA - Get Free Report) had its target price upped by investment analysts at BMO Capital Markets from C$33.00 to C$53.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 17.39% from the company's current price.

Several other research firms have also recently issued reports on MDA. Canaccord Genuity Group raised their target price on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Royal Bank Of Canada lifted their price objective on shares of MDA Space from C$35.00 to C$42.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Desjardins lifted their price objective on shares of MDA Space from C$40.00 to C$55.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Scotiabank downgraded shares of MDA Space from a "strong-buy" rating to a "hold" rating and raised their price target for the stock from C$33.00 to C$39.00 in a research report on Thursday, July 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$43.22.

MDA Space Price Performance

TSE MDA traded down C$0.78 during trading hours on Tuesday, reaching C$45.15. The company's stock had a trading volume of 705,585 shares, compared to its average volume of 497,104. The stock has a market cap of C$5.51 billion, a PE ratio of 80.25 and a beta of 0.02. MDA Space has a fifty-two week low of C$11.78 and a fifty-two week high of C$47.84. The company's 50-day moving average is C$35.19 and its two-hundred day moving average is C$28.92. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83.

Insider Buying and Selling at MDA Space

In related news, Senior Officer Minda Marie Suchan sold 40,000 shares of MDA Space stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$30.64, for a total transaction of C$1,225,608.00. Also, Senior Officer Luigi Pozzebon sold 8,000 shares of MDA Space stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. Over the last quarter, insiders sold 306,000 shares of company stock valued at $9,024,768. 12.60% of the stock is currently owned by insiders.

MDA Space Company Profile

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.

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