Piper Sandler cuts AST Spacemobile stock rating on launch concerns
Piper Sandler has lowered its rating on AST Spacemobile (NASDAQ:ASTS) stock, citing launch concerns and increased competition from SpaceX. The brokerage firm cut its price target from $98 to $54, reflecting lower conviction in the pace of satellite launches in 2026-2027. SpaceX's recent $8 billion purchase of mobile spectrum and potential strategies to undercut mobile network operators could further pressure AST Spacemobile's service prices.
However, factors such as SpaceX's aggression potentially increasing demand for AST's services suggest the firm remains cautiously optimistic about the stock's long-term prospects.
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