MDA Space (NYSE:MDA) Lowered to “Hold” Rating by ATB Cormark Capital Markets

ATB Cormark Capital Markets cut shares of MDA Space (NYSE:MDA) from a moderate buy rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

Several other equities analysts also recently commented on MDA. JPMorgan Chase & Co. boosted their price target on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada lifted their price objective on shares of MDA Space from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce assumed coverage on shares of MDA Space in a research report on Wednesday, May 13th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MDA Space presently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

MDA Space Trading Down 8.5%

NYSE:MDA opened at $44.56 on Friday. MDA Space has a 52 week low of $23.23 and a 52 week high of $49.37.

MDA Space (NYSE:MDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.28 EPS for the quarter, topping 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.