Iridium price target raised to $26 from $24 at Morgan Stanley

Morgan Stanley analyst Justin Lang raised the firm’s price target on Iridium (IRDM) to $26 from $24 and keeps an Equal Weight rating on the shares. The market is “largely looking through” softer 2026 guidance as a new tone around spectrum optionality has been “warmly received,” says the analyst, who adds that a strategic pivot is “still early days.”