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MDA Space Price Target Raised By $8 at RBC

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RBC Capital Markets raised its price target on MDA Space Ltd. (MDA.TO, MDA) to $58 from $50.

Analyst Ken Herbert maintained an Outperform rating on shares of the Canadian space technology developer and manufacturer following its quarterly results.

"MDA Space reported strong 1Q26 growth up 32%, 12% ahead of consensus," Herbert said in a May 8 note to clients.

"Adjusted EBITDA in the quarter was $90.6 Million (19.5% margins), also ahead of consensus by 15%. The 1Q26 bookings were light (book-to-bill of just ~0.3x), with our view remaining that 2H26 order activity to support an acceleration in the 2027 growth is important for sentiment on the stock," the analyst said.

"The company sounds increasingly optimistic on its defense opportunities, which we view as a positive," Herbert said. "The key Lightspeed and GlobalStar contracts are on track."

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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