After Blue Origin announced plans for a new satellite communications network, TeraWave, that will leverage low and medium Earth orbit satellites to deliver symmetrical data speeds up to 6 Tbps, BofA said TeraWave “adds to the long list of planned satellite constellations,” but is not a direct competitive threat to AST SpaceMobile (ASTS), which targets the direct-to-device D2D market largely through mobile network operator partnerships. The firm, which contends that fears for AST SpaceMobile on the TeraWave news are “misplaced,” reiterates a Neutral rating and $100 price target on AST shares.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASTS:
- EchoStar, AST SpaceMobile shares drop as Blue Origin announces TeraWave
- Deutsche ups AST SpaceMobile target on higher valuation multiple
- AST SpaceMobile price target raised to $137 from $81 at Deutsche Bank
- AST SpaceMobile price target raised to $137 from $87 at Clear Street
- U.S. Chess Champion is Bullish on these 3 New Year Stocks