B. Riley analyst Mike Crawford downgraded Terran Orbital to Neutral from Buy with a price target of $1.35, down from $2.50. The analyst cites concerns of questionable disclosures and further revenue slippage from the company’s primary customer, Rivada Space Networks, for the downgrade. The firm is “awaiting another shoe to drop.”
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Read More on LLAP:
- Terran Orbital enters 2024 on stronger financial footing, says Stifel
- Terran Orbital sees year-end cash balance in excess of $70M
- Terran Orbital receives payment from Rivada
- Terran Orbital investors call for separation of chairman, CEO roles
- Terran Orbital price target lowered to $3 from $5 at H.C. Wainwright
