- Globalstar partners with SpaceX for satellite deployment, enhancing industry presence.
- Wall Street predicts significant downside in stock price, but analyst ratings are positive.
- GuruFocus suggests a modest upside based on GF Value estimates.
Globalstar (GSAT, Financial) has taken a strategic step forward by partnering with Elon Musk's SpaceX. Together, they plan to launch nine replacement satellites using the renowned Falcon 9 rocket. These satellites are being constructed by Macdonald, Dettwiler and Associates Corporation and are scheduled for deployment next year. This initiative comes on the heels of a renewed 15-year authorization granted by the FCC, demonstrating Globalstar's commitment to expanding its capabilities.
Wall Street Analysts Forecast
According to predictions from three esteemed analysts, the average price target for Globalstar Inc (GSAT, Financial) over the next year stands at $3.33. This includes a high estimate of $5.00 and a low of $0.99. Notably, this average target suggests a substantial downside of 87.18% from its current trading price of $25.98. Investors can delve deeper into these estimates by visiting the Globalstar Inc (GSAT) Forecast page.
Despite the predicted price downside, the consensus recommendation from three brokerage firms rates Globalstar Inc (GSAT, Financial) at an average of 2.3. This "Outperform" status is on a scale where 1 means Strong Buy and 5 signifies Sell, reflecting market confidence in the stock's potential.
GuruFocus provides additional insights through its proprietary GF Value metric. According to GuruFocus estimates, Globalstar Inc (GSAT, Financial) is projected to have a GF Value of $27.27 in the next year. This represents a modest upside of 4.97% from the current price of $25.98. The GF Value is calculated by analyzing historical trading multiples, past business growth, and future performance forecasts. Investors eager for more comprehensive data should explore the Globalstar Inc (GSAT) Summary page for further information.
