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Will AST SpaceMobile's stock price reach $63 by December 31, 2024?
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AST SpaceMobile Confirms September 12 Launch for BlueBird Satellites from Cape Canaveral
Sep 4, 2024, 12:47 PM
AST SpaceMobile has confirmed the launch of its first five BlueBird satellites on September 12 from Cape Canaveral. The BlueBird satellites will form the largest communications array ever deployed in low Earth orbit, aiming to deliver space-based cellular broadband directly to standard smartphones. The company expects to have over $440 million in pro forma cash and cash equivalents as of June 30, 2024, including more than $155 million in proceeds from warrant redemptions. Additionally, Deutsche Bank has raised its price target for AST SpaceMobile to $63 from $22, maintaining a strong buy recommendation. AST SpaceMobile has transitioned from operating a single experimental BlueWalker communications satellite to building five fully functional comsats ready for launch in September. The company has received FCC approval to launch and operate these satellites and aims to begin beta service before the end of the year.
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