Morgan Stanley analyst Kristine Liwag downgraded Iridium (IRDM) to Equal Weight from Overweight with a price target of $24, down from $37. The firm sees the space technology industry as attractive in 2026. The favorable trends that drove 2025 outperformance should carry into 2026, the analyst tells investors in a research note. However, Morgan Stanley downgraded Iridium, expecting uncertainty in the early days of the company’s strategic pivot to keep stock range-bound.
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