Desjardins Boosts MDA Space (TSE:MDA) Price Target to C$55.00

Key Points

• Desjardins has raised MDA Space's price target from C$40.00 to C$55.00, indicating a potential upside of 21.82% from the current stock price.
• Other analysts, including the Royal Bank of Canada and Scotiabank, have also adjusted their price targets, with a consensus rating of "Buy" and an average target of C$43.22.
• MDA Space shares have recently traded down by 1.7% to C$45.15, with significant insider selling reported over the past 90 days, totaling over C$9 million in shares.

MDA Space (TSE:MDA - Get Free Report) had its price target increased by Desjardins from C$40.00 to C$55.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price target would suggest a potential upside of 21.82% from the company's current price.

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

MDA Space Stock Down 1.7%

Shares of MDA Space stock traded down C$0.78 on Tuesday, reaching C$45.15. The stock had a trading volume of 705,585 shares, compared to its average volume of 497,104. The company has a 50 day moving average price of C$35.19 and a 200 day moving average price of C$28.92. The company has a quick ratio of 1.00, a current ratio of 0.83 and a debt-to-equity ratio of 34.94. MDA Space has a 1 year low of C$11.78 and a 1 year high of C$47.84. The stock has a market capitalization of C$5.51 billion, a P/E ratio of 80.25 and a beta of 0.02.

Insider Activity at MDA Space

In related news, Senior Officer David Snarch sold 18,000 shares of MDA Space stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of C$28.20, for a total value of C$507,600.00. Also, Director Michael Philip James Greenley sold 200,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$29.04, for a total value of C$5,807,400.00. Over the last 90 days, insiders have sold 306,000 shares of company stock worth $9,024,768. Corporate insiders own 12.60% of the company's stock.

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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