Satixfy Communications price target raised to $3 from $2.50 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Satixfy Communications (SATX) to $3 from $2.50 and keeps a Buy rating on the shares. MDA Space’s new contract with Globalstar (GSAT) is bullish for Satixfy, as the company is uniquely positioned to benefit from the satellite broadband market opportunity, the analyst tells investors in a research note. The firm added that its updated price target is based on an equity value/sales multiple of 7x, previously 6x, based on the firm’s 2026 estimate, noting that the higher multiple reflects AGP’s increased confidence that thte company can report upside to the estimate.