AST SpaceMobile price target raised to $82.50 from $56 at Roth Capital

Roth Capital analyst Scott Searle raised the firm’s price target on AST SpaceMobile (ASTS) to $82.50 from $56 and keeps a Buy rating on the shares. The firm says the company’s Q3 report came with $1B of future revenue commitments, a fully funded constellation of up to 100 satellites, and construction and launch timelines that are tracking expectations. Roth views its expectations for 2% direct-to-device penetration by 2030 for AST, which is in-line with T-Mobile’s recent T-Sat penetration at launch, as conservative. It sees “meaningful upside” potential to its 2028-2030 earnings expectations, believing the company’s earnings per share will likely be closer to $10 than its current $2.75 estimate.