MDA Space (TSE:MDA) Price Target Raised to C$58.00 at Morgan Stanley

MDA Space (TSE:MDA) had its target price upped by Morgan Stanley from C$51.00 to C$58.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

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

MDA Space Price Performance

MDA opened at C$47.26 on Friday. The company has a market capitalization of C$6.55 billion, a price-to-earnings ratio of 56.26 and a beta of -0.92. The company has a quick ratio of 1.00, a current ratio of 0.80 and a debt-to-equity ratio of 20.62. The firm has a 50-day moving average price of C$42.03 and a 200-day moving average price of C$34.15. MDA Space has a twelve month low of C$20.85 and a twelve month high of C$50.98.

MDA Space (TSE:MDA) last posted its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a net margin of 6.02% and a return on equity of 7.24%. The firm had revenue of C$464.10 million during the quarter. Equities analysts expect that MDA Space will post 0.9605084 EPS for the current year.

MDA Space News Roundup

Here are the key news stories impacting MDA Space this week:

• Positive Sentiment: Morgan Stanley raised its price target on MDA Space to C$58.00 from C$51.00, implying meaningful upside and reinforcing bullish sentiment after the company’s results. BayStreet.CA
• Positive Sentiment: Scotia lifted its target to C$53.00 from C$49.00 and maintained a “sector outperform” view, signaling confidence in the stock’s outlook. BayStreet.CA
• Positive Sentiment: Desjardins increased its price target to C$55.00 from C$53.00 and kept a “buy” rating, adding to the cluster of upbeat analyst calls. BayStreet.CA
• Positive Sentiment: ATB Cormark trimmed its target slightly to C$53.00 from C$54.00, but still maintained an “outperform” rating, which remains supportive of the stock. BayStreet.CA
• Positive Sentiment: The company reported Q1 revenue of C$464.1 million, up more than 30% year over year, and posted C$0.38 in EPS, showing strong top-line growth and solid profitability. Earnings transcript
• Positive Sentiment: Management also said there is strong early demand for its Earth observation data, suggesting another growth avenue beyond its core aerospace programs. MSN
• Positive Sentiment: MDA said it is moving “full steam ahead” on Canadarm3 even after the space station cancellation, reducing fears that the program setback will derail a key long-term contract opportunity. BetaKit

MDA Space Company Profile

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.