Ribbon Communications (RBBN) PT Lowered to $3.50 at Rosenblatt

Rosenblatt analyst Mike Genovese lowered the price target on Ribbon Communications (NASDAQ: RBBN) to $3.50 (from $4.00) while maintaining a Buy rating.

The analyst commented: "Our 2027 EPS is now $0.17, down from $0.22, and our price target is $3.50, based on 20x, compared to $4 previously. There is still significant upside to the price target underpinning our Buy rating. We like the stronger IP Optical outlook and the progress on Enterprise Cloud & Edge. A weaker Tier 1 Cloud & Edge outlook for 2026 is disappointing but not surprising. Tier 1 carriers are looking for structural expense reduction and AI & Automation expansion over time. We believe voice modernization remains important to help facilitate these goals. In addition, RBBN has compelling opportunities in the government and critical industry sectors, U.S. rural fiber, and Enterprise AI adoption that should help the valuation to improve over time."

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