Globalstar Inc. (GSAT) shares soared 5.33% in Tuesday's intraday trading session, following a Buy rating reaffirmation from analyst George Sutton amid concerns over misinterpreted headlines regarding Starlink and T-Mobile.
Sutton, a Wall Street analyst, revisited his rating on the satellite communications company, reaffirming his bullish stance and likely providing a boost to investor sentiment towards GSAT. His reiterated Buy rating comes as some investors may have been concerned by recent headlines involving Starlink and T-Mobile's partnership, which were misinterpreted as potential threats to Globalstar's business.
With Sutton's reassurance, investors appear to have shrugged off those concerns, driving GSAT stock higher on Tuesday. The analyst's continued optimism likely reinforced confidence in Globalstar's prospects and growth trajectory.
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