Craig-Hallum analyst George Sutton understands the initial reaction that Globalstar’s (GSAT) stock had last week to the headline that Starlink would be made available to Apple (AAPL) users on the T-Mobile (TMUS) network. The headline, however, was misread as a new item, and in some cases viewed as a bad sign for the Globalstar/Apple offering, Craig-Hallum argues, adding that it believes that to be “completely incorrect.” The Starlink/T-Mobile collaboration was announced in 2022, with the latter announcing plans last December to beta test the Starlink service in “early 2025.” The firm believes Globalstar constellations will ultimately deliver important parts of the Apple services offerings, and sees Globalstar fitting into the broader Apple ecosystem plans. Craig-Hallum has a Buy rating and a price target of $5 on Globalstar’s shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GSAT:
- Apple’s (AAPL) iPhones Now Support Musk’s Starlink Satellite Network
- Appleto challenge Starlink’s mobile internet service globally, WCCFTech says
- Globalstar notifies NYSE intention to voluntary delist its shares
- Globalstar (GSAT) Partners with Apple and Sees Its Shares Surge
- Globalstar enters strategic partnership with Peiker