Deutsche Bank upgrades ASTS to Buy with $93 price target, Deutsche Bank notes

Deutsche Bank upgrades ASTS to Buy with $93 price target, Deutsche Bank notes
Deutsche Bank upgrades ASTS with $93 target

Deutsche Bank upgraded ASTS to Buy with a $93 price target, describing Friday’s 10% selloff as “misguided” as SPCX moves closer to competing directly with mobile carriers.

Shay Boloor reported that Deutsche Bank values AST’s Ligado spectrum rights at approximately $19 billion against a $23 billion enterprise value.

AST recently ramped up production of its BlueBird satellites in Texas, with BlueBird 14, 15, and 16 arriving at Cape Canaveral as previously reported by Shay Boloor in ASTS BlueBird 14, 15 and 16 arrive in Cape Canaveral. The company is preparing for wider broadband access as its launch activity increases. These developments come as AST moves ahead with plans to compete directly with mobile carriers.

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