ORBCOMM (ORBC) PT Raised to $16 at Canaccord Genuity After Meeting with Management
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Canaccord Genuity raised its price target on ORBCOMM (NASDAQ: ORBC) to $16.00 (from $14.00) while maintaining a Buy rating following investor meetings with management. ORBCOMM remains a top pick in Canaccord Genuity's IoT coverage universe given a belief that the company is positioned to generate strong long-term recurring revenue growth with expanding adjusted EBITDA margins.
Analyst Michael Walkley believes that ORBCOMM remains on track to sell roughly 90,000 hardware units during Q3/2017 to drive strong sub growth in 2H/2017.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesCanaccord Genuity
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