SLAM - AST SpaceMobile: A Moonshot Investment Opportunity In The Direct-To-Cell Race

2024-07-21 13:06:41 ET

Summary

• AST is on track to launch five Block 1 satellites next month, which could allow it to generate its first revenues in Q4 this year.
• AST can commence limited service in the US in 2025, with access to AT&T and Verizon's user bases of 229.3 million.
• AST could start offering its service to its MNO partners’ 2.8 billion users in 2026.
• AST has the potential to dominate the DTC connectivity space thanks to its relationships with leading MNOs and its technological edge over SpaceX and Lynk.
• My price target for AST is $144 by 2030, representing 1018% upside from its current valuation.

AST SpaceMobile, Inc. ( ASTS ) is on track to disrupt the telecommunications industry thanks to its goal of delivering direct-to-cell ("DTC") services to smartphone users who are out of terrestrial cellular coverage. With the company on track to launch its first five Block 1 BlueBird satellites next month, it is well positioned to realize its first revenues by Q4 this year. Given the significance of this milestone, I expect AST to continue its bullish price movement on a successful launch....

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