BUZZ-AST SpaceMobile soars as brokerage raises PT on upcoming satellite launch
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AST SpaceMobile's shares surged 47.9% following UBS's increased price target amid an upcoming satellite launch. UBS maintains a 'buy' rating, citing ASTS as a high-risk, high-reward investment. The brokerage noted the timely launch of five satellites in early September is crucial for demonstrating the company's technology. They anticipate $4.1 billion in revenues by 2028. Year-to-date, the stock has more than tripled in value.
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