MDA Space (TSE:MDA) Rating Increased to Strong-Buy at Scotiabank

Key Points

• Scotiabank upgraded MDA Space's rating from "sector perform" to "outperform," with a new price target of C$55.00, indicating a potential upside of 21.82%.
• Other brokerages, including Desjardins and BMO Capital Markets, have also raised their price targets for MDA Space, reflecting a consensus "Buy" rating among analysts.
• MDA Space's stock traded down 1.7% to C$45.15 on the release of the analyst ratings, amidst significant insider selling over the past ninety days totaling around C$9 million.

MDA Space (TSE:MDA - Get Free Report) was upgraded by research analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a C$55.00 price target on the stock, up from their previous price target of C$39.00. Scotiabank's price target would suggest a potential upside of 19.10% from the stock's current price.

A number of other analysts have also issued reports on the stock. 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. BMO Capital Markets boosted their target price on shares of MDA Space from C$33.00 to C$53.00 and gave the stock an "outperform" rating in a report on Tuesday. Royal Bank Of Canada upped 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 report on Thursday, July 3rd. Finally, Desjardins upped their target price on MDA Space from C$40.00 to C$55.00 and gave the company a "buy" rating in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$43.22.

MDA Space Trading Up 3.7%

MDA stock opened at C$46.18 on Tuesday. The firm has a fifty day moving average price of C$35.51 and a 200 day moving average price of C$29.03. MDA Space has a fifty-two week low of C$11.94 and a fifty-two week high of C$47.84. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The firm has a market cap of C$5.63 billion, a PE ratio of 82.08 and a beta of 0.02.

Insider Activity

In other MDA Space news, Senior Officer Minda Marie Suchan sold 40,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$30.64, for a total value of C$1,225,608.00. Also, 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. Insiders sold a total of 306,000 shares of company stock worth $9,024,768 in the last three months. Company 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.