MDA Space (NYSE:MDA) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. initiated coverage of MDA Space (NYSE:MDA) with an Overweight rating and a $34 price target (about 15.6% upside), while Jefferies also began coverage with a Buy and a $41 target, leaving a consensus Buy and an average price target of $37.50.
• MDA traded at $29.42 on the day with very light volume (17,016 shares vs. an average of 852,752) and a 52‑week range of $23.23–$33.75, putting the stock below some analyst targets and recent highs.
• MDA Space is a developer and manufacturer of space technologies — including satellites, robotics and geo‑intelligence — and derives the majority of its revenue from Canada.

Equities researchers at JPMorgan Chase & Co. assumed coverage on shares of MDA Space (NYSE:MDA - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set an "overweight" rating and a $34.00 price target on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.57% from the company's current price.

Separately, Jefferies Financial Group assumed coverage on shares of MDA Space in a report on Monday. They issued a "buy" rating and a $41.00 price target for the company. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MDA Space currently has a consensus rating of "Buy" and an average price target of $37.50.

MDA Space Trading Up 0.1%

NYSE:MDA traded up $0.02 during trading hours on Monday, hitting $29.42. The company's stock had a trading volume of 17,016 shares, compared to its average volume of 852,752. MDA Space has a 52-week low of $23.23 and a 52-week high of $33.75.

MDA Space Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.