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

MDA Space (NYSE:MDA) was downgraded by analysts at ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of MDA Space in a research report on Monday, April 6th. They issued a “buy” rating and a $41.00 price objective on the stock. Canaccord Genuity Group raised shares of MDA Space to a “strong-buy” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of MDA Space from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded 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 began coverage on shares of MDA Space in a research report on Wednesday, May 13th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MDA Space presently has an average rating of “Moderate Buy” and an average price target of $47.33.

MDA Space Price Performance

Shares of MDA Space stock 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 issued its quarterly earnings data on Thursday, May 7th. The company reported $0.28 earnings per share (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.