Stifel analyst Erik Rasmussen keeps a Buy rating on Terran Orbital after the company received a milestone payment under the contract with Rivada Sports Network. With ongoing milestone payments expected under the Rivada contract along with other anticipated program payments, Terran’s funding concerns should be alleviated as it now has a clearer path to achieving EBITDA breakeven with ample cash on the balance sheet, the analyst tells investors in a research note. The firm sees the Rivada progress easing some of the stock’s overhang.
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