MDA Space Ltd. (NYSE:MDA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MDA Space Ltd. (NYSE:MDA) have received an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.3333.

MDA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. began 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. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their price target on shares of MDA Space from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Monday. Weiss Ratings lowered shares of MDA Space from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of MDA Space in a report on Monday, April 6th. They issued a “buy” rating and a $41.00 price target for the company.

MDA Space Stock Performance

MDA traded up $0.95 during midday trading on Wednesday, reaching $38.29. 702,687 shares of the company’s stock were exchanged, compared to its average volume of 755,375. MDA Space has a one year low of $23.23 and a one year high of $38.61.

MDA Space (NYSE:MDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05.

About MDA Space

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.