Lightshed Partners Starts Iridium Communications (IRDM) at Buy

Lightshed Partners analyst Walter Piecyk initiates coverage on Iridium Communications (NASDAQ: IRDM) with a Buy rating and a price target of $50.00.

The analyst comments "Starlink and Amazon have increased investor interest in the opportunity of LEO satellite constellations. And for good reason, satellites play a key role in providing connectivity in hard to reach locations for the ever rising demand for data. Somewhat overlooked, Iridium (IRDM: $37.89) is already a fully launched LEO constellation tapping into the growth of IoT, while sitting on top of steady, long-term contracted revenue from the US military and hosted payload customers."

For an analyst ratings summary and ratings history on Iridium Communications click here. For more ratings news on Iridium Communications click here.

Shares of Iridium Communications closed at $38.90 yesterday.

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