BofA analyst Ronald Epstein says the $2.4B contract to produce a total of 300 satellites for Rivada Space Networks further solidifies Terran Orbital as a "top-choice" satellite producer. The contract is also an opportunity for Terran to continue to expand across all satellite service and operation verticals, the analyst tells investors in a research note. The firm sees positive benefits from the award and future expanded needs for satellite communications as tailwinds for Terran Orbital. It keeps a Buy rating on the shares with a $7 price target. The stock in late morning trading is up 91% to $3.24.
Published first on TheFly
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