A slew of investment banks have come out decidedly in favour of would-be global direct-to-device satellite operator, AST SpaceMobile.

For example, analysts at Deutsche Bank are forecasting free cashflow for AST reaching $1.44 billion (€1.24bn) by 2028. The bank has raised its price target to $81 (from $59) and reiterates its ‘Buy’ rating.

Bank of America’s analyst Micheal Funk says the bank is looking forward to seeing launches start happening and welcome the news that BlueBird 6, the first of its second-generation satellites, will launch in early-December, with BB 7 following quickly. BB 8-19 should start launching at a rate of 6-per month with an increased cadence in Q1 as manufacturing gears up. Bank of America expects 47 satellites to be launched by the end of 2006. It maintains its ‘Neutral’ advice for clients and with a share price target of $85.

Investment house Cantor Fitzgerald has reiterated its $80 share price target and an ‘Overweight’ rating advice.

Roth Capital analyst Scott Searle has raised the firm’s price target on AST to $82.50 from $56 and keeps a ‘Buy’ rating on the shares. Roth Capital says AST’s Q3 report came with $1 billion of future revenue commitments, a fully funded constellation of up to 100 satellites, and construction and launch timelines that are tracking expectations.

Roth views its expectations for 2 per cent direct-to-device penetration by 2030 for AST, which is in-line with T-Mobile’s recent T-Sat penetration at launch, and as conservative. It sees “meaningful upside” potential to its 2028-2030 earnings expectations, believing the company’s earnings per share will likely be closer to $10 than its current $2.75 estimate.

B. Riley Securities has also looked again at AST following the operator’s quarterly trading statement, and has a price target of $95 per share, and a ‘Buy’ recommendation.

AST’s current share price on November 11th was $68.

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Tags: AST SpaceMobile, bank