Berenberg Initiates $ASTS at Buy With $92 Price Target, Citing Scale and 2030 Revenue Outlook

Berenberg has initiated coverage of AST SpaceMobile ($ASTS) with a Buy rating and a $92 price target, projecting the company will scale to over 45 BlueBird satellites by mid-2027 to enable continuous service in key markets.
The firm forecasts revenue to climb from $173 million in 2026 to $655 million in 2027 and reach $4.5 billion by 2030, with EBITDA margins potentially expanding up to 75%.
Berenberg highlighted that ASTS stands to benefit from its network of over 60 mobile network operator (MNO) partnerships, strategic spectrum positioning, and upcoming catalysts including new satellite launches and expanded collaborations with AT&T ($T), Verizon ($VZ), and T-Mobile ($TMUS).