Shares of Globalstar Inc. (GSAT) surged over 6% on Friday, following a bullish analyst report that reiterated a Buy rating on the stock.
In a research note released on November 8th, Craig-Hallum analyst George Sutton maintained his Buy recommendation on Globalstar, a satellite communications company. While the specific price target was not disclosed, Sutton's positive outlook on the company's prospects appears to have boosted investor confidence.
Analyst ratings and positive coverage often influence stock price movements, as they provide valuable insights and assessments of a company's future performance. Sutton's decision to reiterate his Buy rating suggests that he expects Globalstar to deliver strong results and see potential upside in the coming months.
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