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Canaccord Genuity Sticks to Its Buy Rating for MDA Space Ltd (MDA)

Tipranks - Tipranks - Fri Jan 30, 7:44AM CST

Canaccord Genuity analyst maintained a Buy rating on MDA Space Ltd yesterday and set a price target of C$51.00. The company’s shares closed yesterday at C$41.11.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for MDA Space Ltd with a C$45.00 average price target, implying a 9.46% upside from current levels. In a report released on January 27, BMO Capital also maintained a Buy rating on the stock with a C$45.00 price target.

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Based on MDA Space Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$409.8 million and a net profit of C$24.4 million. In comparison, last year the company earned a revenue of C$282.4 million and had a net profit of C$29.5 million

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDA in relation to earlier this year.

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