Globalstar price target raised to $75 from $60 at B. Riley

B. Riley raised the firm’s price target on Globalstar (GSAT) to $75 from $60 and keeps a Buy rating on the shares. Globalstar reported Q3 results last week, with revenue and adjusted EBITDA outpacing consensus estimates, the analyst tells investors in a research note. The company refrained from addressing strategic alternatives speculation amid reports that company is in talks, including with SpaceX, with the company’s chairman reportedly citing a $10B+ target bogey, B. Riley adds.