As previously reported, Scotiabank initiated coverage of AST SpaceMobile with an Outperform rating and $7.50 price target. SpaceMobile is pioneering as the most advanced direct-to-cell provider with proven 5G capabilities to ordinary, unmodified cell phones from a low Earth orbit, or LEO, satellite, says the firm, which believes AST “stands at the intersection of telecom, satellites, wireless equipment vendors, and towers.” SpaceMobile “could lead the biggest revolution in network architecture in decades,” the analyst contends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ASTS:
- AST SpaceMobile Announces Satellite-Mobile Launch Plans in Japan
- AST SpaceMobile announces contract award from U.S. government ‘prime contractor’
- AST SpaceMobile Completes Class A Stock Offering
- AST SpaceMobile Stock (NASDAQ:ASTS): Nothing Here but a Failure to Launch
- AST SpaceMobile 32.26M share Spot Secondary priced at $3.10
