$MDA.TO

MDA Space Up 3.5% In US Premarket As 49North Awarded C$3.7M Contract

MDA Space (MDA.TO) subsidiary 49North has been awarded a C$3.7 million contract by General Atomics Aeronautical Systems to design, build, integrate and test a Coalition Shared Database (CSD) for Canada's Remotely Piloted Aircraft System (RPAS) program, MDA said Monday.The latest contract award is an addition to 49North's existing $74.4M RPAS contract and further strengthens 49North's role as a member of Team SkyGuardian Canada, alongside GA-ASI, CAE, and L3Harris WESCAMwhich is working to deliver 11 CQ-9B Guardian aircraft to the Royal Canadian Air Force by 2028, it added.The CSD system will reside in the main RPAS Ground Control Centre in Ottawa, with design, build, integration, and testing conducted at 49North's facility in Richmond, British Columbia. Delivery is expected by August 2027, MDA said..

MDA Space's Unit 49North Says U.S. Air Force Renews Contract

MDA Space's (MDA.TO, MDA) 49North unit confirmed the United States Air Force (USAF) renewed its long-term contract for Global Procedure Designer (GPD) through a new Indefinite Delivery/Indefinite Quantity (IDIQ) agreement, it said on Friday.Canadian Commercial Corporation, on behalf of 49North, has been awarded a contract by the USAF for GPD services, including operations support, help desk services, and software sustainment, it said. The IDIQ contract has a ceiling value of up to US$43 million through June 2031, with an initial fiscal 2026 funding obligation of about US$4.7 million.Work under the contract will be performed in Richmond, British Columbia, the company said. The renewed USAF IDIQ contract, covering a base year plus four option years, extends a more than 25-year relationship between 49North and the U.S. Department of Defense.Shares of MDA Space were last seen down $5.05 to $52.00 on the Toronto Stock Exchange.Price: $51.97, Change: $-5.08, Percent Change: -8.90%

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

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%

MDA Space Up 2.8% In US Premarket As Says Selected by BAE Systems For Constellation program

MDA Space (MDA.TO and NYSE: MDA), a provider of advanced technology and services to the rapidly expanding global space industry, has been selected by BAE Systems, Inc. (NYSE: BAESY) as part of the U.S. Space Systems Command (SSC) MEO EPOCH 2 Constellation program, it said Tuesday.A key component of the U.S. multi-orbit missile defence architecture, Epoch 2 is focused on warning and tracking of advanced ballistic and hypersonic weapons, MDA noted. MDA Space will design and build antennas and antenna control electronics for the MEO Resilient Missile Warning & Tracking (RMWT) satellites to be produced by BAE Systems.This award is a continuation of previous work by MDA Space on the Space Development Agency's low Earth orbit Proliferated Warfighter Space Architecture Tranche 0, 1 and 2 Transport and Tracking layers, and the SSC's EPOCH 1 constellation, for multiple prime contractors, MDA said."Being tapped by BAE Systems for the SSC's missile warning satellite constellation affirms our capabilities in delivering reliable satellite solutions for critical defence missions," said Mike Greenley, CEO of MDA Space. "As governments worldwide boost their national security spending and invest in the space domain, our robust product portfolio, expertise and advanced high-volume production infrastructure set MDA Space apart to meet the growing demand and keep our partners safe today and into the future."The contract was added to MDA Space's backlog in the first quarter of fiscal 2026, and the work is expected to be completed in 2027, Tuesday's statement added.MDA was down $2.90 or 4.7% at $58.58 in Canada yesterday.

MDA Space Says Selected by BAE Systems, Inc. As Part of the U.S. Space Systems Command (SSC) MEO EPOCH 2 Constellation program

MDA Space Upbeat on Its Commercial and Defense Prospects, Notes RBC

MDA Space (MDA.TO) is positive on its prospects in both commercial and defense markets, RBC Capital Markets analyst Ken Herbert, who has an outperform rating and $58.00 price target on the shares of the company, wrote.The company's chief financial officer Guillaume Lavoie, who presented at the RBC Canadian Industrials Conference, highlighted a global space economy that is projected to reach up to $1.8 trillion by 2035, including 40,000 to 50,000 new satellites expected to launch within the decade. MDA estimates its addressable share at 20% to 30% of the space market.The expected growth in Canadian defense spending, from $63 billion today to potentially $155 billion in 2035, also provides opportunities for MDA in terms of satellite systems and other products, captured under its newly created 49North business.MDA has $300 million in net cash, and sees strategic M&A as an option. It remains focused on either key technologies, or assets that would help with greater sales exposure into the U.S. market, Herbert writes. MDA sees its space technology; space-grade ASIC chips, digitally formed and electronically steered beams, and its manufacturing capabilities, as key reasons supporting its "right to win".Price: $57.50, Change: $+2.46, Percent Change: +4.47%

CIBC Initiates Coverage of MDA Space with Outperformer Rating and C$57.00 Price Target

CIBC Capital Markets initiated coverage of MDA Space (MDA.TO) with an outperformer rating and C$57.00 price target..CIBC views MDA Space as a "compelling pure-play on the rapidly expanding space economy.""We are initiating coverage of MDA Space with an Outperformer rating and $57.00 price target, applying a 21x EV/EBITDA multiple on 2027E," said CIBC.CIBC's investment thesis rests on "three core pillars", which are, the company's unique exposure to multiple secular tailwinds driving the space boom; its status as a scaled, well-capitalized and profitable pure-play amid an industry of mostly unprofitable peers; and a valuation that is undemanding relative to both A&D peers and space-sector peers, CIBC stated."Key near-term catalysts are tied to funded programs, reinforcing our confidence in the company's trajectory," said CIBC.According to CIBC, MDA's robust pipeline, profitability, and net cash position set it apart from legacy A&D players with limited growth and from newer space entrants that lack earnings."We value MDA at 21x F2027E EBITDA, in line with higher-growth, profitable SMID-cap A&D peers, and we see further upside potential as the company executes on its pipeline," added CIBC. "Should MDA win an incremental 5% share of the LEO market over the next two years, we see upside of 5% and 14% to our 2026 and 2027 revenue estimates, respectively, translating to an implied equity value of ~$65/share."Price: $53.12, Change: $+0.63, Percent Change: +1.20%

MDA Space Price Target Raised By $8 at RBC

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)

MDA Space Q1 Adjusted Net Income, Revenues Rise; Reaffirms 2026 Full-Year Financial Outlook

MDA Space (MDA.TO, MDA) reported higher adjusted net income and revenues in the first quarter, and reaffirmed its 2026 full-year financial outlook, the company said on Thursday.First quarter adjusted net income was C$50.7 million, compared to $38.4 million in the corresponding year-ago quarter, increasing 32% year-over-year driven by the higher gross margin, partially offset by investments in SG&A and R&D, the company said.Adjusted diluted earnings per share for the quarter was $0.38 per share, up from $0.30 per share in the year-ago quarter, as a result of the higher adjusted net income, partially offset by higher average diluted shares outstanding due to a recent equity issuance related to the US IPO, stated the company.First quarter revenues rose to $464.1 million, up 32.2% from $351 million in the year-ago quarter, driven by higher volumes across all business areas in the quarter, added the company. The consensus estimates compiled by FactSet for sales was $413.8 million.The company also reaffirmed its 2026 full-year financial outlook."We continue to see the speed at which defence spending and demand for new space capability is shaping the market," said Mike Greenley, Chief Executive Officer of MDA Space. "In March, we announced a contract with Canada's Defence Investment Agency to deliver three Ground-Based Optical observatories to support space domain awareness for the Department of National Defence. In April, underpinned by the investments we have made in our next generation commercial and dual-use product portfolio, we launched MDA MIDNIGHT, a space control platform ideally timed to deliver capabilities urgently needed by defence departments to protect critical space infrastructure.""Equally evident was focused execution across the business with our first set of Globalstar satellites signed off and delivered to Florida for the upcoming launch, and the first shipments of our space-grade chips received for integration into MDA Aurora," added the CEO.

MDA Space Up 1.15% In US Premarket As Secures 41 Early Customer Contracts and Letters of Interest for MDA CHORUS Data

MDA Space (MDA.TO, MDA) has finalized nine early customer contracts for MDA CHORUS data, its next-generation Earth observation constellation expected to launch in late 2026, it said on Tuesday at the GEOINT Symposium.The company has also received 32 letters of interest from customers across Asia-Pacific, Latin America, Europe, North America and the Middle East, it added."Demand for Earth observation data and imagery is driving increased engagement with customers globally who are looking for dependable and near real-time access to detect activity, protect critical environments, and support national security priorities," said MDA Space Chief Executive Mike Greenley. "MDA CHORUS is ideally positioned to meet that demand."Designed to deliver EO data day or night and in all-weather conditions, MDA CHORUS will support "more frequent imaging opportunities, faster delivery of insights, and advanced applications such as near real-time exploitation and insights", the company said. "Once operational, the collaborative multi-sensor satellite constellation will provide one of the most extensive radar imaging capacity available on the market in one system, ranging from broad area coverage with a 700 km-wide swath to sub-metre very high-resolution spotlight images," it added.U.S.-listed shares of the company were last seen up 4.6% at US$32.35 in pre-market trading.

MDA Space Says Secured 41 Early Customer Contracts and Letters of Interest for MDA CHORUS Data

MDA Space Up In US Premarket As Contracted By Airbus For Repeat Order of Antennas For OneWeb Constellation Extension

MDA Space (TSX and NYSE: MDA), a provider of advanced technology and services to the rapidly expanding global space industry, was at last look up 1.3% in US premarket trade Monday after saying it has been selected by Airbus to design and build more than 880 Ka-band steerable antennas and 440 Ku-band user replacement antennas for the OneWeb low Earth orbit (LEO) constellation owned by the global operator Eutelsat. No financial details were given.In a statement MDA added this award follows an initial order to supply close to 2,000 antennas to the constellation, the second largest in lower Earth orbit with approximately 650 satellites, given to MDA Space by OneWeb in 2016.Shares in MDA were down in both Canada and the United States last Friday, albeit from 52 week high levels in both cases.

MDA Space Contracted By Airbus For Repeat Order of Antennas For OneWeb Constellation Extension

MDA Space Unveils Space Control Platform MDA MIDNIGHT

MDA Space (MDA.TO) overnight Sunday announced MDA MIDNIGHT, a space control platform for defence organizations to defend and protect the space domain.In a statement the company noted that, MDA MIDNIGHT is a maneuverable spacecraft that employs "high-reliability rendezvous and proximity operations (RPO)" to detect, identify, counter and deter threats to critical space assets and orbits.The company further said that the spacecraft can also be used to augment existing military missions through on-orbit surveillance, asset relocation and satellite refueling.The company added that MDA MIDNIGHT also leverages recent advancements and investments in the company's "diverse product suite," including MDA SKYMAKER commercial robotics and MDA AURORA satellite bus platform."With new and emerging threats from adversaries, the critical space infrastructure that we all depend on requires greater protection," said Mike Greenley, chief executive of MDA Space."Backed by 40 years of on-orbit robotics operations, decades of mission planning and satellite operations, advanced digital technologies and our high-volume commercial production capacity, MDA MIDNIGHT brings together the elements required for this critical mission, helping national and international defence organizations safeguard the space domain on which billions rely."