ASTS Stock Down More Than 60% From Record High – Deutsche Bank Says It's An ‘Opportune Time’ To Buy In

• Deutesche Bank said the upgrade is also based on a number of positive developments that “have gone under the radar
• The firm said Friday’s 10% selloff was unjustified.
• It believes T-Mobile could eventually replace SpaceX’s Starlink with AST SpaceMobile for its direct-to-device satellite services.

Shares of AST SpaceMobile (ASTS) climbed nearly 4% in pre-market trading on Tuesday, as analysts brushed aside Friday’s sharp selloff, seeing the recent weakness as a buying opportunity amid improving growth prospects.

ASTS shares slumped more than 10% on Friday and recorded a nearly 20% decline over the past three sessions. The stock has crashed more than 60% since hitting an all-time high of $133.86 in May.

Deutsche Bank Sees Buying Opportunity

On Monday, Deutsche Bank upgraded ASTS to ‘Buy’ from ‘Hold’ while maintaining its $93 price target, implying a 70% upside from current levels. Analyst Bryan Kraft sees an “opportune time” to turn bullish on the satellite communications company following its recent price weakness.

Kraft also cited a number of positive developments that “have gone under the radar” in its upgrade.

The firm said Friday’s 10% selloff was unjustified, arguing that SpaceX’s acquisition of Grain Management’s 800 MHz spectrum would not strengthen its position against AST SpaceMobile as a satellite partner for traditional telecom operators, according to Investing.com. The firm believes T-Mobile (TMUS) could eventually replace SpaceX’s Starlink with AST SpaceMobile for its direct-to-device satellite services.

The upgrade follows SpaceX’s (SPCX) agreement to acquire Grain Management’s 800 MHz spectrum portfolio, potentially strengthening its position as a competitor to traditional wireless carriers.

SpaceX Deal Could Benefit ASTS, Says Berenberg

On Friday, Berenberg analyst Michael Filatov also reiterated his ‘Buy’ rating on ASTS, arguing that SpaceX’s expansion could make AST SpaceMobile more valuable as a satellite partner for existing telecom operators.

AST SpaceMobile recently completed launches through BlueBird 13 and expects to launch its next set of satellites from Cape Canaveral. BlueBirds 14, 15 and 16 are already stationed at the launch site.

The company aims to deploy around 45 satellites during 2026. AST SpaceMobile has partnerships with more than 60 mobile operators, covering over three billion subscribers globally.

FY 2026 Revenue Outlook Remains On Track

The company reported second-quarter revenue of $31.5 million, missing Wall Street estimates, according to Fiscal.ai. 

The firm also reaffirmed its 2026 revenue guidance of $150 million to $200 million. It reported $70.9 million in revenue last year while the contracted revenue backlog reached around $1.3 billion.

Retail Remains ‘Extremely Bullish’

Retail sentiment on Stocktwits surrounding ASTS remained ‘extremely bullish’ over the past 24 hours, amid ‘high’ message volumes.

The stock has shed nearly 40% of its value this year, significantly underperforming rivals such as RKLB and SPCE.

Also read: SPCX Stock: This Analyst Sees 41% Upside As Starlink Mobile Targets Wireless Market

For updates and corrections, email newsroom[at]stocktwits[dot]com.