B. Riley Securities has lowered its rating on Ribbon Communications (NASDAQ: RBBN) from buy to neutral, according to a research note released on Friday. The firm set a price target of $2.90 for the communications equipment company’s shares.
This change reflects B. Riley’s updated outlook on the stock amid recent market developments. Other analysts have also published reports on Ribbon Communications in the same period, indicating increased attention on the company’s performance.
**Why this matters**
A downgrade from buy to neutral suggests that B. Riley Securities sees limited upside potential for Ribbon Communications in the near term. Investors may want to consider this revised rating when making decisions about holding or purchasing the stock.
Source: NewsData