BofA sees BlueBird 7 misfire as negative shock, no change to AST SpaceMobile biz

BofA analyst Michael Funk says that failure to successfully place BlueBird 7 in planned orbit on April 19th is a negative shock, but does not fundamentally change AST SpaceMobile’s (ASTS) business. With that said, the firm sees risk to AST SpaceMobile meeting its revised target of approximately 45 satellites in orbit by end of 2026. The company has plans to stack future launches with multiple satellites and expects BlueBird 8 to 10 to be ready to ship in approximately 30 days. Assuming launches every 1-2 months and average satellites stacked per launch of 5.5, this would leave a shortfall of about 7 satellites, adds BofA. The firm has a Neutral rating on the shares with a price target of $100.

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