Canadian Imperial Bank of Commerce Upgrades MDA Space (TSE:MDA) to Strong-Buy

MDA Space (TSE:MDA) was upgraded by investment analysts at Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

MDA has been the topic of several other reports. Canaccord Genuity Group set a C$56.00 target price on shares of MDA Space and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Scotiabank raised MDA Space to a “strong-buy” rating in a research report on Thursday, March 19th. Jefferies Financial Group upgraded shares of MDA Space to a “strong-buy” rating in a report on Monday, April 6th. BMO Capital Markets upped their target price on shares of MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Finally, ATB Cormark Capital Markets lowered their price target on MDA Space from C$54.00 to C$53.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, MDA Space currently has an average rating of “Buy” and a consensus target price of C$51.90.

MDA Space Price Performance

TSE:MDA opened at C$53.79 on Wednesday. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. The stock’s 50-day simple moving average is C$43.14 and its 200 day simple moving average is C$34.72. The company has a market cap of C$7.46 billion, a P/E ratio of 67.24 and a beta of -0.92. MDA Space has a 52-week low of C$20.85 and a 52-week high of C$54.40.

MDA Space (TSE:MDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%.The firm had revenue of C$464.10 million for the quarter. As a group, sell-side analysts forecast that MDA Space will post 0.9605084 EPS for the current fiscal year.

About MDA Space

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.