Barclays Lowers Iridium Communications (IRDM)'s Price Target

Iridium Communications Inc. (NASDAQ:IRDM) is among the 10 Best Space Exploration Stocks to Buy Now. Mathieu Robilliard, an analyst at Barclays, maintained an Overweight rating on Iridium Communications Inc. (NASDAQ:IRDM) target from $38 to $31 on July 28. The company lowered its post-earnings projections to account for less definite prospects for development in Iridium’s new verticals. Nonetheless, the company believes the stock’s price is supportive and the company’s growth is still appealing.

Iridium Communications Inc. (NASDAQ:IRDM) is a commercial communications services provider that connects individuals, groups, and assets in real time to and from any location with truly globalized coverage. The company uses a constellation of low-Earth orbiting satellites to provide mobile voice and data connectivity services. Its solutions are appropriate to industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Furthermore, the firm serves subscribers from the U.S. Department of Defense and other government and civil groups worldwide. The company focuses on one business segment: satellite communications services and products. It is ranked eighth on our list of the Best Space Stocks.

While we acknowledge the potential of IRDM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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