AST SpaceMobile (NASDAQ: ASTS) Faces Downgrade While Other Analysts See Upside

• Piper Sandler downgraded AST SpaceMobile to Neutral, setting a $54.00 price target, despite the stock trading at $51.46.
• Deutsche Bank upgraded AST SpaceMobile to Buy with a $93.00 price target, highlighting a 65.00% drop from its peak and the significant value of its wireless spectrum.
• AST SpaceMobile currently trades at $51.46, reflecting a 0.97% gain, with a market capitalization of approximately $20.94 billion.

AST SpaceMobile (NASDAQ: ASTS) is a company developing satellite service that connects directly to standard mobile phones. Piper Sandler analyst Alexander Potter sets a $54.00 price target but downgrades the stock to Neutral. That target is about 4.90% above its $51.46 share price at the time of publication.

The Neutral rating signals a more cautious view, even though Piper Sandler’s target leaves room for a small gain. Other analysts see more upside. As highlighted by Benzinga, AST SpaceMobile shares climb Monday after Deutsche Bank analyst Bryan Kraft upgrades the stock from Hold to Buy and keeps his $93.00 price target.

Kraft points to a roughly 65.00% drop from the stock’s May all-time high, along with positive developments he believes investors have overlooked. He estimates that the company’s wireless spectrum accounts for all but $10.00 per share of its enterprise value. Enterprise value measures a company’s value while also accounting for its debt and cash.

As highlighted by Barron’s, Deutsche Bank argues that SpaceX’s spectrum purchase could make AST SpaceMobile more attractive to wireless carriers. AST SpaceMobile trades at $51.46, up $0.50, or 0.97%, with a market capitalization of approximately $20.94 billion. Its shares have ranged from $47.57 to $133.86 over the past year.