Raymond James has adjusted its price target for Iridium Communications (IRDM, Financial), reducing it from $49 to $47. Despite this decrease, the firm maintains a Strong Buy rating on the stock. The decision follows Iridium’s first-quarter performance, which saw a slight beat in Operational EBITDA (OEBITDA).
The revision in target price comes even as Iridium remains optimistic about its future, having reaffirmed its guidance for 2025. This confidence is maintained despite potential challenges related to equipment costs, which could be affected by tariffs. Raymond James emphasizes that the company's long-term strategy for capital return appears highly attractive to investors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Iridium Communications Inc (IRDM, Financial) is $40.00 with a high estimate of $47.00 and a low estimate of $30.00. The average target implies an upside of 85.10% from the current price of $21.61. More detailed estimate data can be found on the Iridium Communications Inc (IRDM) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Iridium Communications Inc's (IRDM, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Iridium Communications Inc (IRDM, Financial) in one year is $59.72, suggesting a upside of 176.35% from the current price of $21.61. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Iridium Communications Inc (IRDM) Summary page.
