AST SpaceMobile has received fresh examinations and upgrades from a number of investment banks.

While the company’s Q1 results missed consensus on timing around ground station shipments and government revenue recognition, AST said it believes that its satellite launch schedule matters more than the quarter’s performance.

For example, Roth Capital says that while some timing risk remains, “this is generally noise” and also stating the company is fully funded with 100+ satellites and $3.5 billion of cash on its balance sheet.

Deutsche Bank also issued an update on AST, and gave a share price target of $117 (price on May 14th was $75).

Investment house Clear Street also maintained a ‘BUY’ rating for its clients and repeated a price target of $115 per share. Clear Street said in its note: “Our AST SpaceMobile thesis remains driven by a key strategic dynamic: as SpaceX/Starlink (private) expands its Direct-to-Device offering, traditional mobile network operators are increasingly likely to rely on ASTS to protect their subscriber bases. We view AST as a critical partner for incumbent carriers serving roughly 3B mobile subscribers and expect platform adoption to deepen as competitive pressure rises.”

“Management believes current liquidity is sufficient to support up to 100 BlueBird satellites, despite targeting ~45 launches in 2026E, with each satellite carrying estimated capex of ~$21 million-$2 million.

B. Riley Financial also upped its guidance, from $75 per share to $85 per share.

Black Rock showed its commitment to AST on May 14th by acquiring 2.5 million shares in AST, and taking its overall holdings to 14.51 million shares. It has bought almost 4 million shares in AST since Q4 last year.

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Tags: AST SpaceMobile, bank