NextNav (NN) Up 49% as Firm Seen an Acquisition Target

NextNav Inc. (NASDAQ:NN) is one of the 10 Stocks With Monster Returns.

NextNav rallied by 49.4 percent week-on-week, as investors took heart from a flurry of developments, including analyst expectations that it could become an acquisition target.

In a market note earlier in the week, Oppenheimer said that NextNav Inc. (NASDAQ:NN) could be an acquisition target on expectations that it would secure the approval of the Federal Communications Commission (FCC) for its spectrum rebranding plans.10 Stock News You Can’t Miss As Investors Watch AI Trade Momentum

Source:Pexels

If approved, the listed firm is expected to receive an additional 1MHz of spectrum, giving it continuous 15MHz in the lower 900MHz band for a total of 5.1 billion MHz-POPs.

The additional spectrum means that NextNav Inc. (NASDAQ:NN) would be able to serve a larger number of people more effectively.

In line with the projections, Oppenheimer upgraded NextNav Inc. (NASDAQ:NN) to “outperform” from “perform” previously, while assigning a $25 price target, or a 9.5 percent upside potential from its latest closing price. Friday also marked its seventh straight day of gains.

In other developments, NextNav Inc. (NASDAQ:NN) last Thursday secured the FCC approval to conduct a field test to validate the coexistence between its proposed 5G operations and the licensed operations of railroad automatic equipment identification systems in Pueblo, Colorado.

While we acknowledge the potential of NN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.

Disclosure: None. Follow Insider Monkey on Google News.

View Comments