Michael Walkley, an analyst at Canaccord Genuity, had a target of $13 on the share price of ORBCOMM (NASDAQ: ORBC). He raised it from $11, and he says it was well above what other analysts were projecting. It also looked that it might be overly bullish given that the price of the electronic logging device and IoT provider was firmly stuck below $8.
On Thursday, that $13 price wasn’t realized when it was announced the company was being sold for $11.50 per share. But in the announcement of its...
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