MDA Space Ltd (MDA) Receives a Rating Update from a Top Analyst

In a report released yesterday, Kenneth Herbert from RBC Capital maintained a Buy rating on MDA Space Ltd, with a price target of C$50.00. The company’s shares closed yesterday at C$42.91.

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Herbert covers the Industrials sector, focusing on stocks such as Airbus Group SE, Boeing, and L3Harris Technologies. According to TipRanks, Herbert has an average return of 27.6% and a 69.64% success rate on recommended stocks.

Currently, the analyst consensus on MDA Space Ltd is a Strong Buy with an average price target of C$49.57, a 15.52% upside from current levels. In a report released today, Morgan Stanley also maintained a Buy rating on the stock with a C$51.00 price target.

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.