Globalstar Stock (GSAT): $3.25 Price Target From B. Riley (Corrected)

By Amit Chowdhry ● Dec 9, 2021
  • The shares of Globalstar, Inc. (NYSEAMERICAN: GSAT) received a price target of $3.25 from B. Riley. These are the details.

The shares of Globalstar, Inc. (NYSEAMERICAN: GSAT) received a price target of $3.25 from B. Riley. And B. Riley analyst Mike Crawford reiterated a “Buy” rating on the shares.

Crawford noted that carrier aggregation information website Cacombos.com indicates that Globalstar’s Band 53 is available in both the global and U.S. versions of Apple’s iPhone 13 Pro, featuring Qualcomm’s Snapdragon X60 modem. And Crawford believes all that is required for utility is a base station with Band 53 looking for the device. 

Based on evidence that its terrestrial 5G spectrum is an option on Apple’s flagship iPhone 13 Pro, Crawford said now is an excellent time to buy Globalstar before the market digests this change.

This article has been corrected. Previously, the article contained a typo that showed the price target at $2.35 instead of $3.25.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.