AST SpaceMobile price target lowered to $7.40 from $7.50 at Scotiabank

Scotiabank lowered the firm’s price target on AST SpaceMobile to $7.40 from $7.50 and keeps an Outperform rating on the shares. Despite the company’s achievements in Q1, there is still anxiety around the delays in the launch of the five “Block 1” Blue Bird satellites, the analyst tells investors. The launch will likely be delayed between 30 to 90 days from prior guidance, which the firm sees as moderately negative, but “hardly” justifies the selloff, the firm adds.