After Globalstar (GSAT) filed an 8K disclosing an expanded relationship with Apple (AAPL), Morgan Stanley analyst Simon Flannery noted that details are still limited, but says the new expanded relationship with Apple “appears to be very encouraging.” While the firm awaits more details around the nature, cost and deployment timeline for the new constellation, which it understands will be in addition to the 17 satellites currently under construction to be launched next year, it keeps an Equal Weight rating and 99c price target on Globalstar shares and says it hopes to learn more when the company reports earnings on November 7 and at their December investor day.
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