A Reversal for Magellan Aerospace Corp Is Not Near. The Stock Rises Again

 A Reversal for Magellan Aerospace Corp Is Not Near. The Stock Rises Again

The stock of Magellan Aerospace Corp (TSE:MAL) is a huge mover today! About 25,161 shares traded hands. Magellan Aerospace Corp (TSE:MAL) has risen 7.04% since April 13, 2016 and is uptrending. It has outperformed by 2.42% the S&P500.
The move comes after 7 months positive chart setup for the $1.07B company. It was reported on Nov, 17 by Barchart.com. We have $22.57 PT which if reached, will make TSE:MAL worth $256.80 million more.

Magellan Aerospace Corp (TSE:MAL) Ratings Coverage

Out of 3 analysts covering Magellan Aerospace Corporation (TSE:MAL), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $23.75 is the highest target while $19 is the lowest. The $22.25 average target is 22.25% above today’s ($18.2) stock price. Magellan Aerospace Corporation has been the topic of 6 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Canaccord Genuity given on Monday, October 24. TD Securities downgraded it to “Buy” rating and $19 target price in Wednesday, August 12 report.

Another recent and important Magellan Aerospace Corp (TSE:MAL) news was published by Reuters.com which published an article titled: “BRIEF-Magellan Aerospace Corp says board has approved quarterly dividend p…” on November 14, 2016.

Magellan Aerospace Corporation is a Canada supplier of components to the aerospace industry and in certain applications for power generation projects. The company has a market cap of $1.07 billion. The Firm engineers and makes aeroengine and aerostructure components for aerospace markets, including products for defense and space markets, and complementary specialty products. It has a 11.8 P/E ratio. The Company’s divisions include Aerospace and Power Generation Project.

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