Bank of America and New Street Research Maintain Neutral Stance on AST SpaceMobile (ASTS) Amid Launch Delays

AST SpaceMobile, Inc. (NASDAQ:ASTS) ranks among the best short squeeze stocks to invest in. On May 14, Bank of America maintained its Neutral rating on AST SpaceMobile, Inc. (NASDAQ:ASTS), citing competitive pressures and launch delays that have affected the company’s long-term goals. The firm observes that while a new deal could improve AST SpaceMobile’s carrier partnerships, near-term stock performance depends on satellite launch frequency and service revenue generation.

Bank of America recognizes the drive for low Earth orbit companies and sees AST SpaceMobile’s mobile service provider partnerships as a solid basis for revenue growth. That said, the firm stated that mounting competitive challenges and recent launch delays offset the company’s long-term promise and headline-driven success.

Similarly, New Street Research began coverage of AST SpaceMobile, Inc. (NASDAQ:ASTS) with a Neutral rating and a target price of $80. According to the firm, AST Spacemobile is attempting to create a 90-satellite constellation that will provide constant mobile coverage throughout the world.

The firm described the company’s biggest challenge as deploying satellites into orbit at a rate that allows it to profit on its smartphone-native technology.

AST SpaceMobile, Inc. (NASDAQ:ASTS), founded in 2017 and headquartered in Midland, Texas, is a space and telecommunications company developing the world’s first space-based cellular broadband network designed to connect directly with standard, unmodified smartphones. The company’s satellite infrastructure aims to eliminate cellular dead zones by delivering seamless global mobile connectivity.

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