Successful Launches Have Iridium Looking Forward
Providers of wireless communications have to improve their service constantly, and implementing upgrades for ground-based networks that span millions of square miles takes a huge amount of capital investment. For Iridium Communications (NASDAQ: IRDM), the network enhancement process is even tougher, because satellite networks require risky launches and sophisticated technology to ensure successful integration of new satellites into the network and provide 100% coverage of the entire planet's surface.
Coming into Thursday's second-quarter financial report, Iridium investors knew that recent launches had gone well, but they wanted to see what would happen with the communications company's immediate results. Iridium posted an unexpected rise in sales, and although profit was down from year-ago levels, investors seemed pleased with the progress that the company has made overall. Let's take a closer look at Iridium Communications and what it expects to see in the future.
Image source: Iridium Communications.
Source: Fool.com
Iridium Communications Stock
With 9 Buy predictions and not the single Sell prediction the community is currently very high on Iridium Communications.
With a target price of 49 € there is a hugely positive potential of 77.22% for Iridium Communications compared to the current price of 27.65 €.
