Stock Track | Globalstar (GSAT) Soars 5.53% Pre-market After B. Riley Raises Price Target to $75

Stock Track11-10

Shares of Globalstar Inc (GSAT) surged 5.53% in pre-market trading on Monday, following a significant price target upgrade from B. Riley. The satellite communications company's stock is drawing investor attention as analysts express increased optimism about its future prospects.

B. Riley, a prominent financial services firm, has raised its price target for Globalstar to $75 from the previous $60, representing a substantial 25% increase. The firm has also maintained its "Buy" rating on the stock, signaling continued confidence in Globalstar's growth potential. This upgrade comes as a strong vote of confidence in the company's business model and future outlook.

The raised price target suggests that B. Riley sees significant upside potential for Globalstar, which could be driving the pre-market rally. Investors often react positively to such analyst upgrades, as they can indicate improving fundamentals or upcoming catalysts that could boost the company's value. As the market opens, it will be interesting to see if this pre-market momentum continues and how it might impact Globalstar's trading throughout the day.

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