B. Riley raised the firm’s price target on AST SpaceMobile (ASTS) to $44 from $36 and keeps a Buy rating on the shares. The company is gaining valuable L-band spectrum, the analyst tells investors in a research note. The firm says the company reached a comprehensive agreement with Ligado and other parties to settle litigation and enable a consensual restructuring where AST will gain access to 45 MHz of lower mid-band spectrum controlled by Ligado and Viasat (VSAT) subsidiary Inmarsat.
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