Globalstar (GSAT) PT Raised to $70 at Craig-Hallum following Q4 results

Craig-Hallum analyst George Sutton raised the price target on Globalstar (NASDAQ: GSAT) to $70.00 (from $60.00) while maintaining a Buy rating on Friday.

The analyst commented: Following Globalstar's fourth-quarter financial results, George Sutton issued a positive update, maintaining a Buy rating and increasing his price target to $70. He highlighted the company's successful transition from the proof-of-concept phase to active progress in government sectors through Parsons, alongside the strategic rollout of XCOM RAN technology via a new Boingo Wireless partnership. Sutton believes Globalstar is exceptionally well-positioned within an industry increasingly focused on spectrum value, citing the company’s unique advantage in possessing globally harmonized assets. With the initial launch of upgraded satellites slated for the second quarter of 2026, he views the firm as being in the ideal position to capitalize on current market trends.

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