AST SpaceMobile (NASDAQ:ASTS) receives a bullish $59 price target from Clear Street, bucking the consensus range of $30-$64. The company plans to offer reliable commercial service by 2027, with a projected breakout year in 2028 forecasting $2.3 billion in revenue and $1.3 billion in adjusted EBITDA. AST SpaceMobile aims to connect underserved populations worldwide with its space-based cellular broadband network.

Clear Street highlights AST’s strong financial position and key partnerships with major carriers like Verizon and AT&T. Unlike traditional satellite internet, AST’s technology beams signals directly into smartphones, eliminating the need for special equipment. The company aims to go live commercially by 2027 and is backed by strategic partnerships with leading telecom companies.

Read more at Yahoo Finance: AST SpaceMobile Gets $59 Bullish Nod on Direct-to-Phone Satellite Ambitions