RBC Capital Markets raised its price target on MDA Space Ltd. (MDA.TO) to $30 from $28.
Analyst Ken Herbert maintained an Outperform rating on shares of the Canadian space technology company following meetings with senior executives.
"As investors are increasingly confident in the 2025 outlook, the potential for medium-term upside in the Satellite Systems and Robotics segments is a focus," Herbert said in a note to clients.
"With a clean balance sheet, we believe the company is incrementally focused on strategic M&A and the pipeline options associated with having US-based operations," the analyst said.
"MDA also sounded confident regarding its timeline for planned production capacity increases."
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