Why ASTS Shares Are Heading To Space Today

Comments
Loading...

Shares of 5G from space company AST SpaceMobile Inc ASTS are rocketing higher Wednesday.

What Happened: Deutsche Bank initiated shares of ASTS with a Buy rating and a price target of $35 citing a favorable risk/reward profile.

Four model scenarios from the analyst reached price targets ranging from $0 to $86 for the company.

AST SpaceMobile went public in a SPAC merger valuing the company at $1.4 billion. The company has plans to reach 620 million customers by 2030 and $1 billion in EBITDA by 2024.

The analyst sees huge competitive advantages for the company and highlights key wholesale partners.

AST has partnerships with Vodafone Group VOD, AT&T T and Telefonica SA TEF. A 50/50 revenue share model with the partners could provide high margins for ASTS according to the analyst.

Price Action: ASTS shares are up 35% to $13.74.

ASTS Logo
ASTSAST SpaceMobile Inc
$19.70-8.71%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum99.72
Growth-
Quality-
Value1.23
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: