MDA Space (TSE:MDA) Given a C$56.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity set a C$56.00 target and a "buy" rating on MDA, implying about a 21.32% upside from the current share price.
• Analyst consensus remains positive with an average target of C$48.50—three analysts rate MDA as "Strong Buy" and six as "Buy."
• Shares traded at C$46.16 with a market cap of C$6.36 billion and a P/E of 54.95; MDA reported quarterly EPS of C$0.45 on C$499.1 million in revenue.

MDA Space (TSE:MDA - Get Free Report) has been assigned a C$56.00 target price by investment analysts at Canaccord Genuity Group in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 21.32% from the stock's current price.

MDA has been the topic of several other research reports. Desjardins boosted their price target on shares of MDA Space from C$51.00 to C$53.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. ATB Cormark Capital Markets reduced their price target on shares of MDA Space from C$61.00 to C$46.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus boosted their price target on shares of MDA Space from C$48.00 to C$57.00 in a research report on Thursday, March 5th. Scotiabank upgraded shares of MDA Space to a "strong-buy" rating in a research report on Thursday, March 19th. Finally, Jefferies Financial Group upgraded shares of MDA Space to a "strong-buy" rating in a research report on Monday, April 6th. Three investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$48.50.

MDA Space Price Performance

MDA traded down C$0.05 during trading hours on Wednesday, hitting C$46.16. The company's stock had a trading volume of 453,917 shares, compared to its average volume of 1,149,605. The business's 50-day moving average price is C$40.74 and its 200-day moving average price is C$33.65. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$50.98. The stock has a market cap of C$6.36 billion, a price-to-earnings ratio of 54.95 and a beta of -0.78. The company has a current ratio of 0.47, a quick ratio of 1.00 and a debt-to-equity ratio of 30.34.

MDA Space (TSE:MDA - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C$0.45 earnings per share for the quarter. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. The company had revenue of C$499.10 million for the quarter. Sell-side analysts expect 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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