11:58 ET -- MDA Space's satellite business has scale and momentum, which should help the stock grow at a faster clip. JPMorgan says in a report that the satellite business "comprises about 75% of the company's $40 billion five-year pipeline." The concentration of demand underpins the bank's view that the segment "has room to run," supported by a new Montreal facility capable of producing around 400 satellites a year. With Satellite Systems sales already rising significantly since 2021, coupled with exposure to both commercial and military markets, JPMorgan says MDA is positioned as a national champion as Canada's defense budget grows 9% annually. JPMorgan initiates coverage on the stock with a overweight rating and an initial price target of $34. Shares are up 9% to $29.65. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

April 06, 2026 11:58 ET (15:58 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.