Barclays lowered the firm’s price target on Iridium (IRDM) to $25 from $31 and keeps an Overweight rating on the shares. The firm believes Iridium will face increasing long-term competition in its core verticals but sees value in the shares at these levels.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IRDM:
- Mavenir selected by Iridium to deploy Core Network
- Lululemon, AST SpaceMobile, Dick’s, Iridium, Nike: Trending by Analysts
- Sector Spotlight: Industry digests $17B EchoStar-SpaceX spectrum license deal
- Private Markets: Databricks valued at over $100B in latest fundraising
- Iridium Communications: Buy Rating Justified Amid Strategic Resilience and Delayed Competition