U.S. stocks move: Anterix surges on November 12 as B.Riley upgrades to Buy and spectrum transaction prospects

Anterix Surges on November 12: Analysis

Keywords: B. Riley Upgrades to Buy, Spectrum Transaction Outlook

1. On November 12, 2026, B. Riley Securities upgraded Anterix's rating from Neutral to Buy, raising the target price from $86 to $103. The reason cited is the intense competition for spectrum resources, with future pipeline transaction average prices potentially approaching the price level at which SpaceX acquired Grain Management spectrum at $1.78 per MHz-POP.

2. On November 10, 2026, Anterix released its financial results for the second quarter of fiscal year 2027. Spectrum revenue increased by 26% year-over-year to approximately $1.96 million, mainly due to increased revenue recognition following the delivery of TECO spectrum licenses. The company disclosed contract receivables of about $33.1 million, with approximately $9.6 million expected to be collected during the remainder of fiscal year 2027.

3. During the earnings call on November 11, 2026, it was disclosed that the company has a pipeline of 16 transaction opportunities. The scarcity of spectrum is broadening monetization paths, while the company maintains ample liquidity.

(Disclaimer: This content is automatically generated based on publicly available information by AI technology and is for reference only. It does not constitute investment advice.)