B. Riley analyst Dave Kang raised the firm’s price target on Ribbon Communications (RBBN) to $7.50 from $6 and keeps a Buy rating on the shares following the Q4 report. After a challenging first half of 2024, Ribbon “finished on a high note,” the analyst tells investors in a research note. The firm believes the company’s momentum will carry into 2025. Improving profitability and consistent execution by management will drive multiple expansion of the shares, Riley contends.
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Read More on RBBN:
- Ribbon Communications Reports Strong 2024 Financial Results
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