ASTS
New day, new bull case
AST SpaceMobile got a fresh caffeine shot Monday after Deutsche Bank upgraded the stock to Buy from Hold and held the price target at $93. The move helped send shares up, because apparently nothing wakes up Wall Street like a well-timed “maybe the worst is behind us.”
Why the Street got less grumpy
The analyst behind the call, Bryan Kraft, basically argued that the market has been treating ASTS like it’s already out of the race — and maybe that’s too pessimistic. He pointed to a big drop from the stock’s May peak, said several positive catalysts have been overlooked, and argued that spectrum value alone now covers nearly all of the company’s enterprise value except about $10 per share.
That’s the kind of math that makes growth investors lean forward in their chairs.
SpaceX keeps poking the bear
The timing matters, too. ASTS had slid recently after SpaceX said it would buy 14 MHz of 800 MHz spectrum from Grain Management. Deutsche Bank thinks that move doesn’t suddenly make SpaceX a better mobile network operator partner for direct-to-device service. Translation: one more SpaceX headline, but not necessarily one that blows up ASTS’s setup.
Kraft also sees a growing chance that T-Mobile could eventually pivot away from Starlink and toward AST SpaceMobile as its direct-to-device partner through the joint venture tied to the carriers’ broader satellite push.
Big picture: the narrative is still wobbling, but not broken
You’ve got a stock that’s been crushed, a fresh upgrade, and a lot of optionality still floating around the story. That doesn’t make ASTS safe — it just means the market may be revisiting whether this is a busted dream or a delayed one.
And on Wall Street, those are two very different beasts.