B. Riley raised the firm’s price target on Ribbon Communications to $6.50 from $6 and keeps a Buy rating on the shares. Ribbon Communications reported “impressive” margin expansion in Q1, resulting in AEBITDA going up from ($2.4M) in 1Q23 to $11.7M in 1Q24, the analyst tells investors in a research note. In addition, Tier-1 SP spending is bottoming and the firm expects a stronger second half.
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