AST SpaceMobile, Inc. (ASTS) shares surged 6.5% in the pre-market trading session on Wednesday, driven by bullish analyst ratings and price target increases from major Wall Street firms.
Scotiabank analyst Andres Coello maintained a Buy rating on ASTS and set an optimistic price target of $47.90, indicating substantial upside potential for the stock. Meanwhile, Deutsche Bank also reiterated its Buy rating on the company and raised its price target from $53 to $64, reflecting heightened confidence in ASTS's future prospects.
The positive analyst commentary has fueled investor enthusiasm, propelling ASTS shares higher in the pre-market session. As the market opens, investors will closely monitor the stock's performance and any further developments surrounding the company's operations and financial performance.
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