Why AST SpaceMobile Stock Popped on Thursday
AST SpaceMobile (NASDAQ: ASTS) stock jumped 7.6% through 11:15 a.m. ET Thursday after Cantor Fitzgerald analyst Colin Canfield initiated coverage on the satellite communications stock with an "overweight" (i.e., buy) rating.
According to the investment banker, AST stock, which closed below $25 last night, could hit $30 within a year.
"AST's strategic alignment with large telco and tech enterprises" such as AT and , argues Cantor, plus the company's "budding defense opportunities, and supply chain readiness," make the stock a buy. Or at least they could make the stock a buy, assuming "AST executes on milestones and reports growth indicators."
Source Fool.com
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