Barclays downgrades AST SpaceMobile from Overweight to Underweight, maintaining $60 price target. Stock valuation concerns overshadow promising direct-to-cellular technology prospects.
Verizon and AST SpaceMobile team up to deliver space-based cellular service starting in 2026, enabling regular smartphones to connect anywhere without special equipment.
Barclays hiked the AST SpaceMobile stock target to $60 (from $37) because the long-term future looks better, even with minor delays. AST's richer broadband/call/text products mean they can charge more than rivals' basic text-only plans.
