Ribbon Communications shares are trading higher after the company announced it was selected by Powerlink to help modernize its statewide operational network. Also, Craig-Hallum initiated coverage on the stock with a Buy rating and a $5.5 price target.
Portfolio Pulse from Benzinga Newsdesk
Ribbon Communications' shares are trading higher following the announcement that Powerlink selected the company to modernize its statewide operational network. Additionally, Craig-Hallum initiated coverage on Ribbon Communications with a Buy rating and a $5.5 price target.
July 19, 2023 | 7:46 pm
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Ribbon Communications' stock is trading higher due to Powerlink's selection of the company for network modernization and Craig-Hallum's initiation of coverage with a Buy rating and a $5.5 price target.
The news directly impacts Ribbon Communications as it has been selected by Powerlink for a significant project, which could potentially increase its revenues. Additionally, the initiation of coverage by Craig-Hallum with a Buy rating and a $5.5 price target indicates positive sentiment from the analyst, which could attract more investors and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100