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Terran Orbital price target lowered to 50c from $1 at B. Riley

B. Riley lowered the firm’s price target on Terran Orbital to 50c from $1 and keeps a Neutral rating on the shares following the Q2 report. The question remains whether Terran can ramp toward targeted higher revenue and 25% targeted gross margins on the backs of Rivada Space or other merchant satellite manufacturing programs, demonstrating an ability to generate EBITDA and eventual free cash flow, the analyst tells investors in a research note.

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