AST SpaceMobile, the company pioneering space-based mobile broadband, is being recommended as a buy on weakness by Deutsche Bank. The firm upgraded the stock from hold to buy and maintained a $93 price target, implying 82% upside from Friday’s close. Shares have declined more than 26% year-to-date and dropped 10% on Friday after Elon Musk announced that SpaceX would acquire a nationwide spectrum portfolio, potentially enabling competition with mobile providers. However, the stock recovered roughly 5% on Monday following the upgrade. AST SpaceMobile is the first and only global cellular broadband network in space accessible directly by smartphones. Its direct-to-cell technology utilizes satellites equipped with thousands of antennas to deliver reliable broadband coverage to billions of unconnected people worldwide. Year-to-date performance metrics for AST SpaceMobile in 2026 reflect the recent downturn, though Analyst Bryan Kraft noted the stock is down about 60% from its all-time high of $133.86 in May, calling the current moment an “opportune time to become more constructive.” He characterized Friday’s market reaction as misguided. The analyst’s renewed confidence stems from the potential for T-Mobile to switch from Starlink to AST as its direct-to-device satellite connectivity partner. Government opportunities could also provide a boost; Deutsche Bank highlighted a Space Development Agency letter supporting satellite testing as evidence of progress in expanding AST’s government business, and pointed to a potential Japanese project nearing approval that could bring up to $1 billion in government funding for the satellite constellation. Despite this, analysts remain cautious, with nine of 16 covering the stock rating it as a hold according to LSEG.
