The Globe and Mail reports in its Friday, Aug. 18, edition that Citi analyst Jason Gursky has reaffirmed his "neutral" recommendation for MDA. The Globe's David Leeder writes that Mr. Gursky gave his share target a $3 boost to $11. Analysts on average target the shares at $12.79. Mr. Gursky thinks MDA's $2.1-billion (U.S.) contract to build almost 200 low-Earth-orbit satellites for Telesat is "akin to 'catching a whale'" for a company of its size. Mr. Gursky says in a note: "We like the outcome there as it provides a clear path to solid revenue growth through 2025. In the quarter itself, the robotics and satellite systems businesses posted 20 per cent plus and 50-per-cent-plus growth respectively given several wins over the past 18 months, and operating cash flow as a percent of Adj. EBITDA came in at 96 per cent vs. the company's long-term target of 80 per cent." Mr. Gursky said last week's announcement "positively surprised" investors, noting the award compares favourably with MDA's current backlog of $1-billion (U.S.) while reducing Telesat's cost estimates for the project nearly in half. Mr. Gursky says, "It appears MDA's technical approach allowed it to offer a lower cost solution than a competitor."