AST SpaceMobile, Inc. (ASTS) stock surged 7.58% in the intraday trading session on Wednesday, fueled by a flurry of bullish analyst ratings and price target increases from major Wall Street firms.
Several analysts issued upbeat commentary on ASTS, painting an optimistic outlook for the company's future prospects. UBS analyst Christopher Schoell raised the firm's price target on ASTS to $38 from $31, maintaining a Buy rating on the shares. Scotiabank analyst Andres Coello also reiterated a Buy rating on ASTS and set an ambitious price target of $47.90, signaling substantial upside potential.
Deutsche Bank echoed the bullish sentiment, reaffirming its Buy rating on ASTS and raising its price target from $53 to a lofty $64. The positive analyst commentary and increased price targets have bolstered investor confidence, driving the stock's impressive gains on Wednesday.
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