On October 12, AST SpaceMobile, Inc. rose 5.44% in regular trading, driven by Deutsche Bank's upgrade of the stock to Buy from Hold with a target price of $93.
The upgrade reverses a recent bearish trend among investment banks, serving as a short-term catalyst. Fundamentally, the company completed its first satellite-to-smartphone integration test with Telus, and its backlog has increased to approximately $1.3 billion, providing medium-to-long-term revenue support. AST SpaceMobile, Inc. is a satellite designer and manufacturer building a space-based cellular broadband network accessible by standard smartphones.
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