(NEW YORK)--Oct. 5, 2010-Ludlow Capital, a New York based equity research firm, upgraded TerreStar Corporation (NASD:TSTR) to a new range of $1.00 to $1.50 per share.
In their note, they referred to the upcoming partnership between Microsoft and AT&T and their planned launch of the Windows Phone 7 OS. This move could be Microsofts real push to enter the smartphone market, and with AT&T and T-Mobile as their partners, TerreStar could see benefits from their satellite feature on new upcoming Windows based phones with AT&T.
Both Microsoft and AT&T are expected to make this major announcement next Monday, Oct. 11th in New York City. During that time, the executive team of TerreStar is also expected to be in the city for upcoming investor conference.
In addition, there could be an announcement before the holiday season regarding a consumer based product using the TerreStar system.
With these unfolding events, and increased prospects financially for the company, Ludlow foresees a new trading scope for the stock above its 200 day moving average in the $1.00 to $1.50 price range.
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