Shares of MDA Space Ltd. surged 5.32% during intraday trading on Monday, following a series of positive analyst actions.

The stock's upward movement coincides with Deutsche Bank raising its price target on MDA Space to $40 from $33 while maintaining a Buy rating. Separately, RBC Capital analyst Kenneth Herbert also maintained a Buy rating on the company with a price target of C$58.00.

Such analyst upgrades and reaffirmed bullish stances often signal confidence in a company's future prospects and can drive increased investor interest, contributing to the stock's significant price appreciation in the session.