AST SpaceMobile price target raised to $60 from $44 at B. Riley

B. Riley raised the firm’s price target on AST SpaceMobile (ASTS) to $60 from $44 and keeps a Buy rating on the shares. AST will gain access to “valuable” 45 MHz of lower mid-band spectrum controlled by Ligado and Viasat subsidiary Inmarsat, the analyst tells investors in a research note. The firm also sees financial flexibility for the company post the note offering.