Scotiabank Upgrades AST SpaceMobile (ASTS), Citing Improved Valuation After 50% Market Cap Pullback

AST SpaceMobile Inc. (NASDAQ:ASTS) is one of the best Reddit stocks to invest in right now. On November 24, Scotiabank upgraded AST SpaceMobile to Sector Perform from Underperform, with an unchanged price target of $45.60. Scotiabank is now recommending the stock based on its improved valuation, which came after the company’s market capitalization halved over the then-past 35 days. The firm noted that following this sharp pullback, the stock has returned to what it considers a balanced pricing range.

In its Q3 2025 earnings report, AST SpaceMobile showed strong commercial momentum despite facing inherent industry risks. The company has secured over $1 billion in total contracted revenue commitments from commercial partners, validating its ecosystem strategy. Key to this traction are definitive commercial agreements with major telecom operators, including Verizon in the US and Saudi Telecom Group for the Middle East and North Africa region.

Total revenue generated by the company in the said quarter totaled $14.74 million, which missed Street estimates by $5.16 million. However, the company also faced a loss per share of $0.45 in Q3. The company is now planning to complete 40 satellites by early 2026 and achieve a manufacturing cadence of six satellites per month. The processing capacity of the Block 2 satellites has been dramatically increased compared to the BlueWalker 3 test satellite.

AST SpaceMobile Inc. (NASDAQ:ASTS), together with its subsidiaries, designs and develops the constellation of BlueBird satellites in the US.

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Disclosure: None. This article is originally published at Insider Monkey.