Roth Capital raised the firm’s price target on AST SpaceMobile (ASTS) to $56 from $51 and keeps a Buy rating on the shares. The firm says the company’s Q2 highlighted its recent progress on funding as well as launch timelines and spectrum opportunities. AST’s recently secured global S-Band spectrum brings a “unique multi-frequency enhanced spectrum model with broadband service capabilities,” the analyst tells investors in a research note. Roth believes the company is effectively fully funded.
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