Form 8-K Iridium Communications For: Apr 22
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William Blair Upgrades Iridium Communications (IRDM) to Outperform
April 22, 2025 11:04 AM EDTWilliam Blair analyst Louie DiPalma upgraded Iridium Communications (NASDAQ: IRDM) from Market Perform to Outperform.
The analyst comments "We are upgrading shares of Iridium to Outperform with shares trading down 9% following earnings. We see greater than 20% upside over the next year as free cash flow remains resilient, even in a recessionary environment. Our confidence is driven by several factors. First, Iridium reaffirmed its expectation to generate $302 million in free cash flow this year, which represents 13% of the companys market cap. We believe the companys 7-times free cash flow multiple... More
