B. Riley raised the firm’s price target on Globalstar (GSAT) to $60 from $4 and keeps a Buy rating on the shares to account for the 1-for-15 reverse stock split. B. Riley is modeling $61M in revenue and $31M in EBITDA for Q4, ahead of a $60M/$30M consensus that exceeds what the firm views as overly conservative guidance, the analyst tells investors in a research note.
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