First Analysis Downgrades ORBCOMM (ORBC) to Outperform
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First Analysis analyst Howard Smith downgraded ORBCOMM (NASDAQ: ORBC) from Strong Buy to Outperform with a price target of $10.00 (from $13.00).
The analyst is incrementally more negative noting that decent cash flows and progress on margin improvement are not enough to offset NT weakness.
Shares of ORBCOMM closed at $9.05 yesterday.
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