CIBC Capital Markets raised its price target on MDA Space (MDA.TO) to $67 from $64.
Analyst Erin Kyle maintained an Outperformer rating on shares of the Canadian space technology solutions and services company after it announced on Wednesday it was awarded a $688 million contract by the Canadian Space Agency.
"The contract for the replenishment satellite was part of MDA's $10 billion pipeline of down-selected government opportunities and we had anticipated an announcement in 2026," Kyle said in a note to clients. "That said, we believe the $688 million contract value was above market expectations, and we see upside to consensus estimates."
The contract is expected to ramp up in 2027, with "minimal capex required to support the program," Kyle said.
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