Oppenheimer analyst Timothy Horan initiated coverage of AST SpaceMobile (ASTS) with a Perform rating and no price target The company is building mobile cell-sites in space, in low earth orbits, to offer a complete suite of 5G mobile service for rural areas, the analyst tells investors in a research note. The firm says AST is still in a venture stage that is largely pre-revenue, “so it is a highly risky investment.” There is also a lack of information around spectrum access and management, the business model, competition and its supplier relationships, contends Opco.
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