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Iridium price target lowered to $31 from $38 at Barclays

Barclays analyst Mathieu Robilliard lowered the firm’s price target on Iridium (IRDM) to $31 from $38 and keeps an Overweight rating on the shares. The firm reduced estimates post earnings to reflect less certain growth opportunities in Iridium’s new verticals. However, the firm believes the company’s growth remains attractive and the stock’s valuation is supportive.

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