Scotiabank downgrades AST SpaceMobile stock due to valuation concerns

From Yahoo Finance: 2025-06-26 15:24:00

On June 23, Scotiabank downgraded AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock to “Sector Perform” from “Outperform” with an unchanged price target of $45.40, citing valuation concerns after a 131% YTD run-up. The firm sees limited reasons to increase the price target higher despite the stock’s impressive rally.

AST SpaceMobile, Inc. (NASDAQ:ASTS) is gearing up for the launch of FM1 from India to test its satellite orbiting capabilities amidst competition from Starlink and Globalstar. A partnership with Vi, India’s telecom provider, aims to expand mobile connectivity in underserved areas. The company anticipates revenue generation from US Government opportunities starting in 2025.



Read more at Yahoo Finance: Scotiabank Downgrades AST SpaceMobile (ASTS) Stock to Sector Perform