1 Wall Street Analyst Thinks AST SpaceMobile Stock Is Going to $46. Is It a Buy Around $30?

Excitement is growing for AST SpaceMobile's (NASDAQ: ASTS) initial commercial satellite launch in the first half of September. The stock has soared in anticipation of the launch of the company's five commercial BlueBird satellites, which are in Cape Canaveral awaiting the upcoming launch window.Scotiabank analyst Andres Coello thinks investors should own AST stock for several reasons and just raised his price target from $28 to $45.90 per share. That implies a gain of about 47% from Tuesday's close. And that comes after the stock had soared 400% for the year, through Tuesday's close.But Coello didn't raise the firm's price target just because of the launch event. In a research note this week, Coello wrote that the "buy rating is not based on a short-term trading opportunity, but on the company's potential to become the world's largest wireless company by subscribers." That could come by tapping the massive global population currently without internet access. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool