Analyst Reactions Scotia Capital’s Paul Steep to $20 from $21 with a “sector outperform” rating.
“In our view, MDA is positioned to see an increase in business as investment in space projects appears to represent an upcycle over the next several years,” said Mr. Steep. “The current book of business reflects a more diversified mix of key programs than the company has had in the past, having now secured three flagship programs (e.g., Canadian Surface Combatant, Canadarm3, and Telesat Lightspeed). We believe there are opportunities for MDA to secure additional LEO satellite component and prime manufacturing projects over our forecast horizon.”
* Canaccord Genuity’s Doug Taylor to $20 from $21 with a “buy” rating.
“We see upside to MDA shares as the company executes against its growth profile with continued underlying profitability,” said Mr. Taylor.