Clear Street raised the firm’s price target on AST SpaceMobile (ASTS) to $87 from $59 and keeps a Buy rating on the shares following the Q3 report. The firm says the company is entering its final pre-commercialization phase “having substantially de-risked its path to market” with funding now in place to reach 100 satellites. Clear Street cites AST’s progress on the L-Band spectrum acquisition, accelerated commercial momentum with mobile network operators, and less equity dilution following a completed convertible offering for the target increase.
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