Macquarie analyst Andrew DeGasperi reiterated an Outperform rating and bumped his price target on Iridium Communications (NASDAQ: IRDM) to $10.00 (from $9.50) following results.

DeGasperi commented, "Iridium continues to take market share in several verticals and continues to benefit from a rebound in its maritime segment, which was underperforming over the last year. With only eight months to go before the launch of its first next-gen satellites, Iridium NEXT is hitting several milestones on time and on budget."

The firm's ’14 and ’15 adj. OEBITDA estimates increase by ~1% and in line with management’s upwardly revised guidance.

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Shares of Iridium Communications closed at $9.20 yesterday.