MDA Space (NYSE:MDA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

MDA Space (NYSE:MDA) had its target price hoisted by equities researchers at Royal Bank Of Canada from $50.00 to $58.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 58.99% from the stock’s previous close.

A number of other brokerages have also recently commented on MDA. Jefferies Financial Group began coverage on shares of MDA Space in a research note on Monday, April 6th. They issued a “buy” rating and a $41.00 price target for the company. Weiss Ratings began coverage on shares of MDA Space in a report on Wednesday, April 8th. They issued a “buy (b-)” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of MDA Space in a research note on Monday, April 6th. They issued an “overweight” rating and a $34.00 target price for the company. Finally, Canaccord Genuity Group upgraded MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $44.33.

MDA Space Stock Performance

MDA stock traded up $1.87 during mid-day trading on Monday, reaching $36.48. The company had a trading volume of 407,515 shares, compared to its average volume of 738,776. MDA Space has a 52 week low of $23.23 and a 52 week high of $37.45.

MDA Space (NYSE:MDA) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05.

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.