MDA Space (TSE:MDA) Given New C$58.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on MDA Space to C$58.00 from C$51.00, implying about 22.5% upside from the current share price.
• Other analysts have also turned more positive, with recent target increases and upgrades from firms including BMO, Desjardins, Canaccord Genuity, Stifel, and Scotiabank. The stock now carries a consensus rating of Buy and an average target of C$51.33.
• MDA Space recently reported C$0.38 EPS on C$464.1 million in revenue for the quarter, while the stock traded at C$47.36 after a modest gain. The company has a market cap of about C$6.52 billion.

MDA Space (TSE:MDA - Get Free Report) had its price target upped by Morgan Stanley from C$51.00 to C$58.00 in a research note issued on Friday,BayStreet.CA reports. Morgan Stanley's target price indicates a potential upside of 22.47% from the company's current price.

A number of other analysts have also recently commented on the stock. BMO Capital Markets boosted their target price on shares of MDA Space from C$45.00 to C$50.00 in a research note on Thursday, March 5th. Desjardins raised their price target on shares of MDA Space from C$51.00 to C$53.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Canaccord Genuity Group set a C$56.00 price objective on MDA Space and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Stifel Nicolaus increased their target price on MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. Finally, Scotiabank upgraded MDA Space to a "strong-buy" rating in a research report on Thursday, March 19th. Three analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of C$51.33.

MDA Space Price Performance

Shares of MDA stock traded up C$0.69 during trading hours on Friday, hitting C$47.36. 692,918 shares of the company's stock were exchanged, compared to its average volume of 1,118,538. MDA Space has a fifty-two week low of C$20.85 and a fifty-two week high of C$50.98. The firm has a market cap of C$6.52 billion, a P/E ratio of 56.38 and a beta of -0.92. The company has a quick ratio of 1.00, a current ratio of 0.47 and a debt-to-equity ratio of 30.34. The firm has a 50 day moving average of C$42.03 and a two-hundred day moving average of C$34.15.

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

About MDA Space

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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