Globalstar given nod by analysts
Globalstar L.P., was rated "buy'' in new coverage by two Unterberg Harris analysts.
Mr. Robert Kaimowitz and Mr. Paul Rodriguez said the company faces tremendous demand for telecommunications services worldwide.
The demand, coupled with advances in technology, are catalysts for a new era in wireless communications.
The analysts see the company posting a loss before taxes, depreciation and amortisation costs of 62 cents per share for fiscal 1996 increasing to a loss of 64 cents per share in 1997 and turning profitable in 1998 at $1.65 cents per share, said Bloomberg Business News service.
Globalstar Telecommunications was formed by Loral Corp. and Qualcomm Inc.
Globalstar L.P. is an international consortium developing a 48 satellite based mobile telecommunications network.
