Royal Bank Of Canada Issues Positive Forecast for MDA Space (TSE:MDA) Stock Price

Key Points

• Royal Bank of Canada has raised its price target for MDA Space stock from C$42.00 to C$53.00, indicating a potential upside of 17.39%.
• Multiple analysts, including Desjardins and BMO Capital Markets, have also increased their price targets for MDA Space, with a consensus rating of "Buy".
• MDA Space's current stock price is C$45.15, showing a slight decline of 1.7% during recent trading amidst insider selling activities.

MDA Space (TSE:MDA - Get Free Report) had its price target raised by equities researchers at Royal Bank Of Canada from C$42.00 to C$53.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 17.39% from the company's previous close.

MDA has been the topic of several other research reports. Desjardins raised their price objective on MDA Space from C$40.00 to C$55.00 and gave the stock a "buy" rating in a research note on Tuesday. BMO Capital Markets raised their price objective on MDA Space from C$33.00 to C$53.00 and gave the company an "outperform" rating in a report on Tuesday. Scotiabank upgraded MDA Space from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from C$39.00 to C$55.00 in a report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of MDA Space from C$36.00 to C$45.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$43.22.

MDA Space Trading Down 1.7%

MDA traded down C$0.78 during mid-day trading 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 firm's fifty day simple moving average is C$35.19 and its two-hundred day simple moving average is C$28.92. 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 stock has a market capitalization of C$5.51 billion, a P/E ratio of 80.25 and a beta of 0.02. MDA Space has a 52 week low of C$11.78 and a 52 week high of C$47.84.

Insider Buying and Selling at MDA Space

In other MDA Space news, Senior Officer Luigi Pozzebon sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of C$32.02, for a total transaction of C$256,160.00. Also, Senior Officer David Snarch sold 18,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of C$28.20, for a total transaction of C$507,600.00. Over the last quarter, insiders sold 306,000 shares of company stock valued at $9,024,768. 12.60% of the stock is currently owned by insiders.

About MDA Space

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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