AST SpaceMobile Falls After Piper Sandler Downgrade on SpaceX Competition
Piper Sandler cut AST SpaceMobile to Neutral, citing SpaceX's direct-to-cell service as a risk to the company's launch access and pricing, and the shares dropped 9%. Deutsche Bank issued an opposing upgrade to Buy on the same day. Planet Labs fell 4% and Rocket Lab slipped 2%, while AST SpaceMobile reported a $1.3 billion contracted backlog and $3.7 billion in liquidity ahead of its next BlueBird launch.
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