AST SpaceMobile: Primed For Takeoff With The Upcoming BB2 Launch

2025-04-16 08:20:29 ET

Summary

• AST SpaceMobile's upcoming May launch of 1 BB2 satellite is a major catalyst as it represents a critical step towards offering continuous service.
• I expect AST to start continuous service in the US, Europe, and Japan in the second half of 2026, potentially leading to a major revenue ramp.
• AST’s technology provides it with access to several non-dilutive funding sources, as well as lucrative revenue-generating government contracts.
• Based on my scenario analysis, I’m raising my price target for ASTS stock to $304 by 2030, in my base-case scenario, representing 1229% upside from its current valuation.

In July last year, I initiated my coverage on AST SpaceMobile, Inc. ( ASTS ) with a strong buy rating due to its technological edge in the DTC space and its relationships with 50 MNOs that provide it with access to 2.8 billion potential customers. Since then, the stock is up 75% as it successfully launched the first 5 BB1 satellites, started testing with Verizon ( VZ ) and AT&T ( T ) in the US, and secured a long-term agreement with Vodafone ( VOD ) through 2034....

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