Barclays Initiates Coverage On SpaceMobile With Overweight, Sees 127% Upside

July 12, 2021 7:44 AM | 1 min read | Make a Comment

Barclays analyst Mathieu Robilliard initiated coverage of SpaceMobile Inc ASTS with an Overweight rating and a $29 price target, implying a 127.3% upside.
SpaceMobile’s unique proposition, significant addressable market, and goal of extending mobile coverage everywhere via satellite seek to address a growing policy priority for governments bridging the digital divide. Robilliard sees a compelling investment opportunity if the technology works as planned and management executes.
The company just launched its U.K. headquarter at Space Park Leicester.
Price action: ASTS shares traded higher by 8.9% at $13.90 in the premarket session on the last check Monday.