The firm cited a slower satellite launch cadence and later commercial availability as reasons for the lower price target, according to The Fly.
- BofA highlighted upcoming satellite launches, a potential commercial agreement with T-Mobile and additional sovereign satellite deals as possible catalysts for AST SpaceMobile, according to Investing.com.
- Five out of 13 analysts covering the stock rate it ‘Buy’ or ‘Strong Buy,’ while six rate it ‘Hold’ and two rate the stock ‘Sell’ or ‘Strong Sell,’ according to Koyfin.
- AST SpaceMobile reported third-quarter revenue of $42.3 million, below analyst estimates of around $46 million, on Monday, but maintained its 2026 revenue outlook of $150 million to $200 million.
AST SpaceMobile (ASTS) shares drew investor attention on Tuesday after BofA Securities sharply cut its price target on the satellite company, citing slower launches and delays to commercial availability.
BofA lowered its price target to $45 from $80 while maintaining a ‘Neutral’ rating on the shares, according to The Fly. This implies around 22% upside from AST SpaceMobile’s previous closing price of $36.89.
ASTS shares traded 3.4% lower in premarket trading at the time of writing.
Five out of 13 analysts covering the stock rate it ‘Buy’ or ‘Strong Buy,’ while six rate it ‘Hold’ and two rate the stock ‘Sell’ or ‘Strong Sell,’ according to Koyfin. Their 12-month price target ranges from $42.50 to $108, with an average of $74.68.
BofA Flags Satellite Launch And Commercialization Risks
BofA updated its model following AST SpaceMobile’s third-quarter results and management commentary, citing a slower launch cadence and later commercial availability as reasons for the reduced price target, The Fly reported.
The firm also highlighted three areas of concern: satellite launch cadence, the timing of commercial availability, and technology execution risks associated with the company’s plans to develop its own launch vehicles using Firefly Aerospace’s Miranda engine, according to a report published by Investing.com.
AST SpaceMobile is targeting 45 satellites in orbit by mid-2027. However, the timeline could slip depending on launch vehicle availability. Reaching this milestone is important to the company’s commercial service timeline and potential time-to-market advantage, Investing.com reported.
Separately, on its third-quarter earnings call, management said it was targeting initial intermittent nationwide service activation by the end of 2026, followed by consumer beta trials in early 2027. The company said it would need about 45 to 60 BlueBird satellites to enable continuous service in key markets.
Despite its cautious assessment, BofA identified potential positive catalysts, including upcoming satellite launches, a possible commercial agreement with T-Mobile and additional sovereign satellite deals, according to Investing.com.
ASTS Q3 Highlights
The company reported third-quarter revenue of $42.3 million, below the around $46 million analysts expected. Revenue increased sequentially and year-over-year, supported by gateway deliveries and government-related milestones. However, AST SpaceMobile maintained its full-year 2026 revenue guidance of $150 million to $200 million.
AST SpaceMobile is also ramping up satellite manufacturing, with a target of producing six ASIC satellites per month by December 2026. On its earnings call, management said BlueBird satellites 14-16 had been shipped to Cape Canaveral and were awaiting a launch date from SpaceX. Satellites 17-19 were expected to ship this month for a planned Blue Origin launch in early 2027.
On the government front, the company highlighted a $100-million U.S. Space Force sensing contract and said it had received 16 U.S. government awards to date.
How Retail Views ASTS
On Stocktwits, retail sentiment for the stock remained in ‘bullish’ territory, amid ‘high’ message volumes in the past 24 hours. ASTS was also one of the platform’s trending tickers at the time of writing.
ASTS shares have dropped over 47% year-to-date.
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