MDA Space (NYSE:MDA) Lowered to “Strong Sell” Rating by Zacks Research

MDA Space (NYSE:MDA) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group assumed coverage on MDA Space in a report on Monday, April 6th. They issued a “buy” rating and a $41.00 price target on the stock. Royal Bank Of Canada raised their price target on MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Monday. Canadian Imperial Bank of Commerce began coverage on MDA Space in a report on Wednesday. They issued an “outperform” rating on the stock. Canaccord Genuity Group upgraded MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.33.

MDA Space Stock Performance

MDA Space stock opened at $39.20 on Wednesday. MDA Space has a 12-month low of $23.23 and a 12-month high of $39.66.

MDA Space (NYSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.28 earnings per share (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.