Globalstar initiated with a Hold at Deutsche Bank

Deutsche Bank initiated coverage of Globalstar (GSAT) with a Hold rating and $62 price target Following the Echostar and SpaceX deal, the strategic value of Globalstar’s spectrum has materially increased, leading to the stock more than doubling in the past three months, the analyst tells investors in a research note. The firm sees Globalstar’s current risk/reward profile as mostly balanced.