Ribbon Communications price target raised to $7.50 from $6 at B. Riley

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.