Piper Sandler downgraded AST SpaceMobile to Neutral from Overweight and cut its price target to $54, citing lower confidence in the company's satellite launch pace over the next two years. The firm pointed to SpaceX's expanding direct-to-cell plans, warning SpaceX could limit launch availability for partners or pressure pricing through its own service. Clear Street reiterated a Buy rating and $115 target, arguing AST SpaceMobile remains roughly six months ahead of SpaceX in direct-to-cell. Three more BlueBird satellites arrived at Cape Canaveral ahead of a planned launch, but no firm date has been set. AST SpaceMobile shares fell 8% to $43.38, a steeper drop than Rocket Lab (down 2% to $62.77) and SpaceX (down 2% to $152.88).
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- AST SpaceMobile Sinks 9% as Piper Sandler Cuts to Neutral on SpaceX Direct-to-Cell Threat; Planet Labs Drops 4%, Rocket Lab Slips
AST SpaceMobile (ASTS) fell 9% to $46.58 in morning trading after Piper Sandler downgraded the stock to Neutral from Overweight, citing less conviction in the pace of commercial satellite launches, as SpaceX's expanding direct-to-cell push could restrict launch access and pressure pricing. The stock is down 36% year to date and below its prior 52-week low of $47.57. Deutsche Bank took the opposite view in the previous session, upgrading to Buy from Hold and arguing the selloff exceeded the value of the company's spectrum position. Planet Labs (PL) and Rocket Lab (RKLB) also declined, down 4% and 2%. AST SpaceMobile has 13 BlueBird satellites in orbit, targets 45 by early 2027, and reports a contracted backlog of $1.3 billion.
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Shares of AST SpaceMobile (ASTS) rose 4% to $52.86 after the company said its next three BlueBird satellites had arrived at Cape Canaveral, Florida, ahead of launch, though the stock is still down 27% year to date. Rocket Lab (RKLB) slipped 0.8% to $67.66 and Intuitive Machines (LUNR) fell 0.5% to $13.13, suggesting the move is company-specific. No launch date has been announced for BlueBirds 14, 15 and 16, which would join 13 satellites already in orbit, against a target of around 45 by early 2027. Berenberg maintained its Buy rating, arguing that SpaceX's agreement to buy a nationwide low-band spectrum portfolio, pending FCC approval, makes AST SpaceMobile more strategically relevant as a satellite partner for carriers. The article flags risks including no launch date, an unapproved spectrum sale and too few satellites for continuous coverage.
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