AST SpaceMobile Gets $59 Bullish Nod on Direct-to-Phone Satellite Ambitions

AST SpaceMobile (NASDAQ:ASTS) is one of the best space stocks to buy according to hedge funds. On July 10, Clear Street began coverage on AST SpaceMobile (NASDAQ: ASTS) with a Buy rating and a $59 price target, setting it apart from the consensus range of $30–$64.

Clear Street’s bullish thesis hinges on AST’s plan to start reliable commercial service by 2027, with a projected breakout year in 2028, forecasting $2.3 billion in revenue and $1.3 billion in adjusted EBITDA. Translating that, their $59 target equates to about 19× 2028 EBITDA or 11× revenue, based on a 10‑year discounted cash‑flow model.

satellite-dish-941506_1280

This endorsement follows earlier support from Roth MKM (Buy) and stands in contrast to Bank of America’s neutral stance. Clear Street also pointed to AST’s strong financial footing; liquidity bolstered by a current ratio north of 10, and key strategic partnerships with Verizon, AT&T, Vodafone, and Rakuten.

AST SpaceMobile is building the first space-based cellular broadband network that works directly with standard, unmodified smartphones. Unlike typical satellite internet, their tech beams signals straight into your handset, eliminating the need for special gear. Backed by major carriers, AST aims to connect underserved populations worldwide and go live commercially by 2027.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None.