Morgan Stanley Sees Amazon’s Globalstar Deal Expanding Its Leo/Space Ambitions

Morgan Stanley’s Brian Nowak argues Amazon’s $11.6B Globalstar acquisition would accelerate its Leo satellite strategy by enabling direct-to-device connectivity, securing coveted L/S-band spectrum, expanding in-orbit capacity, adding Band 53 options for future operations, and leveraging Apple partnerships for real-world D2C use; with a Buy/Overweight stance and a $300 target, the Street is broadly bullish (average ~14% upside) as AMZN stock rose about 4% on the news.