Bank raises view on AST to $100
January 13, 2026
Analysts at the Bank of America have increased their price target for AST SpaceMobile from $85 (€72.8m) to $100 per share.
The bank’s report to clients said: “2025 was a watershed year for LEO. We expect the momentum to intensify in 2026 as providers like AST and Starlink jockey to offer full cellular service and capture subscribers. Debates will likely grow regarding Starlink’s plans to offer full cellular service and regulatory decisions on Ligado and EchoStar spectrum transactions are events to watch. Carrier partnerships could evolve and pricing and plan decisions should be clearer by year end as AST approaches full constellation operability.”
The bank added: “We believe the AST 2026 story rides on achieving various manufacturing and launch deadlines and milestones. The company is fully funded with $1.2 billion of cash on 3Q balance sheet which will provide it with the ability to manufacture and expects to reach its goal of full-service by YE2026. The successful launch its BlueBird 6 satellite via launch in India and provides AST an additional step towards the full-service with 45-60 satellites. AST’s partnerships with AT&T, Verizon, Vodafone, and 50 other mobile-network operators provide it with the opportunity to capture a substantial number of subscribers, once full launched.”
The bank said it will hold its ‘Neutral’ rating and increase our [target] to $100 (from $85) as AST continues to make progress on its satellite launch cadence.
“We believe a DCF valuation is appropriate for AST due to the early stage, high projected growth, and outyear free cash flow generation timeline for the company. Our Discounted Cash Flow assumptions are a Weighted Cost of Capital of 12 percent and terminal growth rate of 10 percent (from 9 per cent) as we adjust our longer-term assumptions,” the bank continued.
Bank of America said it wait progress on AST:
1) fully producing and subsequently launching its BlueBird satellite constellation,
2) successfully operating the constellation, and
3) capturing subscribers and turning them into revenue paying subscribers before becoming more constructive on the story.
AST’s BlueBird #7 is awaiting launch at Cape Canaveral although no rocket provider – or date for launch – has yet been provided.