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Is AST SpaceMobile Stock Going to $19? 1 Wall Street Analyst Thinks So.

TheMotleyFool

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Is AST SpaceMobile Stock Going to $19? 1 Wall Street Analyst Thinks So.: https://g.foolcdn.com/editorial/images/771796/sunrise-over-earth-as-seen-from-space.jpg

At first glance, one of the newer price targets for AST SpaceMobile (NASDAQ: ASTS) stock looks like a typo. After all, $19 per share is more than eight times higher than the current share price.

Yet it's no mistake. One analyst believes so much in the company's future that he's anticipating such a leap. What's giving him such confidence?

Just after AST SpaceMobile reported its latest set of quarterly earnings (or lack thereof), Deutsche Bank's Bryan Kraft set a new price target for the shares. Interestingly, he actually lowered that target, from a relatively lofty $23 to that $19 per share while maintaining his buy recommendation.

Source Fool.com

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