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Stifel Canada Hikes MDA Space Price Target to $70, Maintains Buy Rating on Positive Outlook

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Stifel Canada has hiked its price target on the shares of MDA Space (MDA.TO) to $70.00, from $57.00, and maintained its buy rating.

Analyst Greg MacDonald notes that MDA Space has rallied along with U.S. peers. Its shares have surged 63% in the past month, compared with the TSX's 3%.

MDA also completed its U.S. initial public offering last March, giving it direct access to U.S. investors. "We see this MDA's US listing as a key reason the stock has rallied alongside leading US space names over the past month."

The stock may take a breather while catalysts catch up, but MacDonald has lifted his price target in anticipation of both military and commercial mega-constellation opportunities that could be announced in the second half of this year.

Price: $56.59, Change: $+0.75, Percent Change: +1.34%

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