Clear Street recommended buying AST SpaceMobile shares, viewing the stock's recent 50% pullback from its peak as a prime buying opportunity. [3, 5] The firm attributes the significant price drop to temporary complications with third-party launch vehicles rather than a weakening demand for its direct-to-device satellite technology or loss of contracts. [3, 5] Clear Street anticipates that established mobile network providers will increasingly adopt AST's solution to remain competitive. [3, 5]
This bullish outlook was reinforced by commentary from key partner AT&T, whose CEO stated on an earnings call that their joint satellite service could "come to fruition" as early as next year. [4, 7] Despite the recent volatility, Wall Street's average 12-month price target for ASTS suggests a potential upside of more than 34% from its current levels. [5]