Scotiabank analyst Andres Coello lowered the firm’s price target on AST SpaceMobile (ASTS) to $40.20 from $44.70 and keeps an Outperform rating on the shares. The firm is trimming its price target due to a lack of clarity from the impact of higher interest payments and from the impacted cash flow from the yearly amount AST SpaceMobile will pay Ligado, the analyst tells investors. However, the firm is leaving the “door open” for reviewing its revenue projections once the company clarifies its opportunities.
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